GE Vernova Inc. $GEV Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 13.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,657 shares of the company’s stock after selling 1,524 shares during the period. Sigma Planning Corp’s holdings in GE Vernova were worth $5,938,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of GE Vernova by 0.6% during the third quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after buying an additional 150,892 shares during the period. State Street Corp grew its holdings in GE Vernova by 1.9% during the 2nd quarter. State Street Corp now owns 11,097,778 shares of the company’s stock worth $5,872,389,000 after acquiring an additional 206,650 shares in the last quarter. Geode Capital Management LLC grew its holdings in GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares in the last quarter. Norges Bank purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $1,809,220,000. Finally, Invesco Ltd. raised its holdings in shares of GE Vernova by 26.3% in the 2nd quarter. Invesco Ltd. now owns 2,217,257 shares of the company’s stock valued at $1,173,262,000 after purchasing an additional 462,038 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts recently commented on GEV shares. Wall Street Zen upgraded shares of GE Vernova from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Robert W. Baird set a $923.00 price objective on GE Vernova and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Barclays reissued an “overweight” rating and set a $849.00 target price on shares of GE Vernova in a research report on Monday, February 2nd. Finally, Mizuho set a $714.00 price target on GE Vernova in a report on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $788.24.

GE Vernova Stock Performance

GEV opened at $829.65 on Friday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $846.00. The stock has a market capitalization of $223.62 billion, a P/E ratio of 46.61, a price-to-earnings-growth ratio of 3.30 and a beta of 1.67. The business’s 50-day simple moving average is $704.97 and its 200-day simple moving average is $641.23.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 11.24%.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.