GE Vernova Inc. $GEV Shares Sold by Schulhoff & Co. Inc.

Schulhoff & Co. Inc. cut its stake in GE Vernova Inc. (NYSE:GEV) by 3.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,693 shares of the company’s stock after selling 62 shares during the quarter. Schulhoff & Co. Inc.’s holdings in GE Vernova were worth $896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares during the period. 1248 Management LLC purchased a new position in shares of GE Vernova during the 1st quarter worth $31,000. Saudi Central Bank purchased a new position in shares of GE Vernova during the 1st quarter worth $33,000. Finally, Ransom Advisory Ltd purchased a new position in GE Vernova during the 1st quarter valued at about $33,000.

GE Vernova Stock Performance

Shares of GEV opened at $585.12 on Wednesday. The stock has a 50-day simple moving average of $613.83 and a 200-day simple moving average of $524.82. The stock has a market capitalization of $159.28 billion, a PE ratio of 140.99, a PEG ratio of 4.30 and a beta of 1.72. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.65 EPS. Analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GEV. Glj Research raised their target price on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. HSBC raised their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Robert W. Baird raised their target price on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Morgan Stanley raised their target price on GE Vernova from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Jefferies Financial Group raised their target price on GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a report on Friday, September 12th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently 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.