Princeton Capital Management LLC Sells 437 Shares of GE Vernova Inc. $GEV

Princeton Capital Management LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,163 shares of the company’s stock after selling 437 shares during the quarter. GE Vernova accounts for about 1.4% of Princeton Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Princeton Capital Management LLC’s holdings in GE Vernova were worth $4,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the 1st quarter valued at about $27,000. WFA Asset Management Corp acquired a new position in shares of GE Vernova during the second quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC acquired a new stake in shares of GE Vernova in the first quarter valued at approximately $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the 1st quarter worth approximately $33,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GEV. Susquehanna boosted their target price on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada lifted their price objective on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Citigroup dropped their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Finally, Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Trading Down 1.8%

Shares of NYSE GEV opened at $549.81 on Friday. The company has a fifty day moving average price of $603.35 and a 200 day moving average price of $546.47. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a market cap of $149.17 billion, a PE ratio of 89.55, a PEG ratio of 4.16 and a beta of 1.68.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 16.29%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.15% of the company’s stock.

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.