Gables Capital Management Inc. Sells 415 Shares of GE Vernova Inc. $GEV

Gables Capital Management Inc. lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 11.3% in the second quarter, Holdings Channel reports. The institutional investor owned 3,270 shares of the company’s stock after selling 415 shares during the period. Gables Capital Management Inc.’s holdings in GE Vernova were worth $1,730,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after purchasing an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Wellington Management Group LLP raised its holdings in GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after purchasing an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in GE Vernova by 47.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares during the last quarter.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 1.5%

NYSE:GEV opened at $585.12 on Wednesday. The company has a fifty day moving average of $613.83 and a 200-day moving average of $524.82. The firm has a market capitalization of $159.28 billion, a P/E ratio of 140.99, a P/E/G ratio of 4.30 and a beta of 1.72. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the firm posted $4.65 EPS. GE Vernova’s revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Glj Research raised their price target on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Mizuho raised their price target on shares of GE Vernova from $670.00 to $677.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Susquehanna lifted their price objective on shares of GE Vernova from $736.00 to $740.00 and gave the company a “positive” rating in a research note on Monday, October 13th. Finally, Bank of America lifted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $601.44.

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.