Focused Alpha LLC Sells 884 Shares of GE Vernova Inc. $GEV

Focused Alpha LLC lessened its position in GE Vernova Inc. (NYSE:GEV) by 65.8% during the third quarter, Holdings Channel reports. The fund owned 459 shares of the company’s stock after selling 884 shares during the quarter. Focused Alpha LLC’s holdings in GE Vernova were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in GE Vernova in the 2nd quarter worth about $25,569,630,000. State Street Corp increased its stake in shares of GE Vernova by 3.3% in the second quarter. State Street Corp now owns 11,765,340 shares of the company’s stock valued at $13,828,380,000 after purchasing an additional 370,842 shares during the period. Bank of America Corp DE bought a new stake in shares of GE Vernova during the second quarter valued at approximately $2,961,612,000. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova during the second quarter valued at approximately $2,497,472,000. Finally, Jupiter Topco LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $2,371,538,000.

GE Vernova Stock Down 1.5%

Shares of GEV stock opened at $907.78 on Tuesday. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The business’s fifty day moving average is $961.19 and its 200-day moving average is $1,002.63. The stock has a market cap of $241.77 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 3.19 and a beta of 1.14.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter last year, the company earned $1.86 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities analysts expect that GE Vernova Inc. will post 15.04 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be given a $0.50 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 5.72%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GEV shares. Glj Research began coverage on GE Vernova in a research report on Monday, September 14th. They set a “sell” rating and a $470.00 price objective for the company. Oppenheimer raised their target price on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Citigroup cut their target price on GE Vernova from $1,219.00 to $1,125.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Evercore reiterated an “outperform” rating and set a $1,350.00 price target on shares of GE Vernova in a research report on Thursday, October 1st. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $1,185.00 price target (up from $1,155.00) on shares of GE Vernova in a research note on Thursday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,164.87.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company focused on helping generate, transmit, store and deliver electricity. The company serves utilities, power producers, grid operators, commercial and industrial customers, and other energy-sector participants worldwide.

Its business is organized around three primary areas: Power, Wind and Electrification. Power provides technologies and services for gas and steam power generation, hydropower, nuclear power and other energy systems.