Secure Asset Management LLC Sells 1,107 Shares of GE Vernova Inc. (NYSE:GEV)

Secure Asset Management LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 42.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,530 shares of the company’s stock after selling 1,107 shares during the period. Secure Asset Management LLC’s holdings in GE Vernova were worth $467,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Park Edge Advisors LLC increased its holdings in GE Vernova by 54.6% during the 1st quarter. Park Edge Advisors LLC now owns 2,146 shares of the company’s stock worth $655,000 after purchasing an additional 758 shares in the last quarter. Teamwork Financial Advisors LLC bought a new stake in GE Vernova during the 1st quarter worth approximately $2,995,000. Sendero Wealth Management LLC increased its holdings in GE Vernova by 3.4% during the 1st quarter. Sendero Wealth Management LLC now owns 6,082 shares of the company’s stock worth $1,857,000 after purchasing an additional 201 shares in the last quarter. Benin Management CORP increased its holdings in GE Vernova by 37.6% during the 1st quarter. Benin Management CORP now owns 2,146 shares of the company’s stock worth $655,000 after purchasing an additional 586 shares in the last quarter. Finally, Apella Capital LLC increased its holdings in GE Vernova by 42.0% during the 1st quarter. Apella Capital LLC now owns 1,081 shares of the company’s stock worth $353,000 after purchasing an additional 320 shares in the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $488.36 on Thursday. The company has a market cap of $133.29 billion, a P/E ratio of 87.83, a P/E/G ratio of 3.03 and a beta of 1.97. The stock’s fifty day moving average price is $382.72 and its two-hundred day moving average price is $358.53. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $500.72.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.47) earnings per share. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. GE Vernova’s dividend payout ratio is currently 14.41%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GEV shares. JPMorgan Chase & Co. upped their target price on GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $422.00 target price (up from $400.00) on shares of GE Vernova in a report on Thursday, April 24th. Susquehanna reaffirmed a “positive” rating and issued a $499.00 target price (up from $399.00) on shares of GE Vernova in a report on Wednesday, May 14th. Citigroup reduced their target price on GE Vernova from $437.00 to $354.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Finally, Johnson Rice started coverage on GE Vernova in a report on Friday, February 7th. They issued a “buy” rating and a $425.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $385.78.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.