HighVista Strategies LLC Reduces Position in GE Vernova Inc. $GEV

HighVista Strategies LLC trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 58.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,650 shares of the company’s stock after selling 2,350 shares during the period. HighVista Strategies LLC’s holdings in GE Vernova were worth $1,015,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Gotham Asset Management LLC boosted its holdings in shares of GE Vernova by 35.7% during the 3rd quarter. Gotham Asset Management LLC now owns 12,694 shares of the company’s stock valued at $7,806,000 after acquiring an additional 3,342 shares during the last quarter. Fairfield Bush & CO. raised its holdings in shares of GE Vernova by 9.0% during the third quarter. Fairfield Bush & CO. now owns 2,653 shares of the company’s stock valued at $1,631,000 after purchasing an additional 220 shares during the last quarter. First Commonwealth Financial Corp PA purchased a new position in shares of GE Vernova during the third quarter valued at approximately $226,000. Flow Traders U.S. LLC bought a new position in GE Vernova during the third quarter valued at approximately $402,000. Finally, Firsthand Capital Management Inc. bought a new position in GE Vernova during the third quarter valued at approximately $246,000.

GE Vernova Trading Up 2.6%

GEV opened at $825.99 on Tuesday. The firm’s 50 day simple moving average is $762.83 and its two-hundred day simple moving average is $665.47. The company has a market capitalization of $222.63 billion, a PE ratio of 46.40, a PEG ratio of 3.20 and a beta of 1.44. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $894.93.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $10.40. The firm had revenue of $10.96 billion during the quarter, compared to the consensus estimate of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared 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. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s payout ratio is currently 11.24%.

Analysts Set New Price Targets

A number of research firms have commented on GEV. UBS Group reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, January 29th. Wells Fargo & Company boosted their target price on shares of GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Susquehanna raised their price target on GE Vernova from $800.00 to $820.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $785.00 price objective on shares of GE Vernova in a report on Thursday, January 29th. Finally, Evercore increased their target price on GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $831.29.

About GE Vernova

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.