GE Vernova Inc. $GEV Shares Sold by Cercano Management LLC

Cercano Management LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 45.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 33,199 shares of the company’s stock after selling 27,721 shares during the quarter. GE Vernova makes up 0.8% of Cercano Management LLC’s holdings, making the stock its 27th biggest holding. Cercano Management LLC’s holdings in GE Vernova were worth $20,414,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of GE Vernova in the second quarter valued at $3,598,000. Lyell Wealth Management LP acquired a new stake in shares of GE Vernova in the second quarter valued at $278,000. Schnieders Capital Management LLC. boosted its holdings in GE Vernova by 1.7% in the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company’s stock valued at $828,000 after purchasing an additional 26 shares during the period. Finally, Princeton Global Asset Management LLC grew its stake in GE Vernova by 14.4% during the 2nd quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock worth $80,000 after purchasing an additional 19 shares in the last quarter.

GE Vernova Trading Up 2.0%

GEV stock opened at $818.31 on Wednesday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $846.00. The company’s 50 day moving average is $697.31 and its two-hundred day moving average is $637.51. The stock has a market cap of $220.56 billion, a P/E ratio of 45.97, a PEG ratio of 3.19 and a beta of 1.67.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $10.40. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. During the same quarter in the prior year, the business posted $1.73 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GEV. Royal Bank Of Canada lifted their price objective on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of GE Vernova in a report on Wednesday, December 10th. Barclays reiterated an “overweight” rating and set a $849.00 price target on shares of GE Vernova in a report on Monday, February 2nd. TD Cowen increased their price objective on shares of GE Vernova from $680.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $817.00 price objective on shares of GE Vernova in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $788.24.

GE Vernova 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.