QRG Capital Management Inc. Sells 33,114 Shares of GE Vernova Inc. $GEV

QRG Capital Management Inc. lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 50.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,231 shares of the company’s stock after selling 33,114 shares during the quarter. QRG Capital Management Inc.’s holdings in GE Vernova were worth $19,819,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Evergreen Capital Management LLC raised its holdings in shares of GE Vernova by 17.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 2,586 shares of the company’s stock worth $1,590,000 after purchasing an additional 375 shares during the period. NBT Bank N A NY grew its holdings in GE Vernova by 90.0% during the third quarter. NBT Bank N A NY now owns 3,503 shares of the company’s stock valued at $2,154,000 after purchasing an additional 1,659 shares during the period. Lodestar Private Asset Management LLC increased its position in GE Vernova by 48.5% in the third quarter. Lodestar Private Asset Management LLC now owns 582 shares of the company’s stock worth $358,000 after buying an additional 190 shares during the last quarter. Leavell Investment Management Inc. raised its stake in shares of GE Vernova by 21.6% in the third quarter. Leavell Investment Management Inc. now owns 8,504 shares of the company’s stock valued at $5,229,000 after buying an additional 1,513 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its position in shares of GE Vernova by 5.8% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 1,833 shares of the company’s stock valued at $1,127,000 after buying an additional 101 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on GEV. Mizuho decreased their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Citigroup lifted their target price on shares of GE Vernova from $658.00 to $708.00 and gave the stock a “neutral” rating in a research note on Monday. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research report on Wednesday, December 10th. Seaport Res Ptn lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Finally, Barclays increased their target price on GE Vernova from $800.00 to $830.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $703.04.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $681.78 on Friday. The firm has a fifty day moving average of $629.47 and a 200 day moving average of $611.23. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The firm has a market capitalization of $184.98 billion, a PE ratio of 111.04, a price-to-earnings-growth ratio of 2.69 and a beta of 1.67.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) earnings per share. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 5th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, January 5th. This is an increase from GE Vernova’s previous quarterly dividend of $0.25. This represents a $2.00 dividend on an annualized basis and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is 32.57%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.