GGM Financials LLC Sells 2,272 Shares of GE Vernova Inc. $GEV

GGM Financials LLC reduced its position in GE Vernova Inc. (NYSE:GEV) by 96.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 93 shares of the company’s stock after selling 2,272 shares during the period. GGM Financials LLC’s holdings in GE Vernova were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. RWA Wealth Partners LLC increased its holdings in shares of GE Vernova by 1.0% in the third quarter. RWA Wealth Partners LLC now owns 12,567 shares of the company’s stock worth $7,728,000 after acquiring an additional 122 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in GE Vernova by 2.3% in the 3rd quarter. Bradley Foster & Sargent Inc. CT now owns 5,224 shares of the company’s stock valued at $3,212,000 after buying an additional 116 shares during the last quarter. Colonial Trust Advisors boosted its position in GE Vernova by 10.4% during the third quarter. Colonial Trust Advisors now owns 1,400 shares of the company’s stock valued at $861,000 after purchasing an additional 132 shares during the last quarter. North Star Asset Management Inc. increased its position in shares of GE Vernova by 1.0% during the 3rd quarter. North Star Asset Management Inc. now owns 2,182 shares of the company’s stock worth $1,342,000 after purchasing an additional 21 shares during the last quarter. Finally, Waddell & Associates LLC lifted its position in shares of GE Vernova by 35.4% in the third quarter. Waddell & Associates LLC now owns 1,692 shares of the company’s stock valued at $1,040,000 after buying an additional 442 shares during the last quarter.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $879.25 on Wednesday. The firm has a market cap of $236.98 billion, a PE ratio of 49.40, a P/E/G ratio of 3.31 and a beta of 1.67. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $879.89. The stock has a fifty day moving average price of $711.80 and a 200-day moving average price of $643.99.

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

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GEV shares. Barclays reaffirmed an “overweight” rating and issued a $849.00 target price on shares of GE Vernova in a report on Monday, February 2nd. Morgan Stanley restated an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a research note on Monday, January 26th. UBS Group reiterated a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. TD Cowen raised their target price on shares of GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Evercore upped their price target on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $788.24.

About GE Vernova

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.