HighVista Strategies LLC Sells 2,350 Shares of GE Vernova Inc. $GEV

HighVista Strategies LLC trimmed its position in GE Vernova Inc. (NYSE:GEV) by 58.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,650 shares of the company’s stock after selling 2,350 shares during the period. HighVista Strategies LLC’s holdings in GE Vernova were worth $1,015,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. boosted its holdings in shares of GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Wealth Watch Advisors INC bought a new position in shares of GE Vernova in the 3rd quarter worth about $25,000. Bay Harbor Wealth Management LLC increased its stake in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after acquiring an additional 43 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in GE Vernova by 47.2% during the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 17 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted its position in GE Vernova by 112.0% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after acquiring an additional 28 shares during the period.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $825.99 on Tuesday. The company has a 50-day simple moving average of $762.83 and a two-hundred day simple moving average of $665.47. The stock has a market capitalization of $222.63 billion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 3.20 and a beta of 1.44. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $894.93.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, January 28th. The company reported $13.39 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The firm had revenue of $10.96 billion for the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.73 earnings per share. As a group, 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. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 17th. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GEV. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. Rothschild & Co Redburn upgraded shares of GE Vernova from a “sell” rating to a “buy” rating and lifted their target price for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. TD Cowen boosted their price target on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Erste Group Bank initiated coverage on GE Vernova in a research note on Thursday, March 5th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $785.00 price objective on shares of GE Vernova in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $831.29.

GE Vernova Company 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.