Kinetic Partners Management LP Trims Position in GE Vernova Inc. $GEV

Kinetic Partners Management LP decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 69.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,165 shares of the company’s stock after selling 40,700 shares during the quarter. Kinetic Partners Management LP’s holdings in GE Vernova were worth $11,170,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GEV. Brighton Jones LLC increased its position in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in GE Vernova by 1.7% in the 2nd 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 last quarter. Foundations Investment Advisors LLC grew its stake in shares of GE Vernova by 9.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 2,620 shares of the company’s stock valued at $1,387,000 after buying an additional 218 shares during the period. Empower Advisory Group LLC purchased a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $286,000. Finally, WealthShield Partners LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $275,000.

GE Vernova Trading Up 2.6%

GEV opened at $825.99 on Tuesday. The stock’s 50-day moving average price is $762.83 and its 200 day moving average price is $665.47. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $894.93. The firm has a market cap of $222.63 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 3.20 and a beta of 1.44.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Investors of record on Tuesday, March 17th will be paid 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 dividend payout ratio is presently 11.24%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Thursday, January 29th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of GE Vernova in a research note on Wednesday, December 10th. Robert W. Baird set a $923.00 target price on GE Vernova and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $817.00 price target on shares of GE Vernova in a research note on Monday, January 26th. Finally, Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a report on Wednesday, December 10th. One 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. According to MarketBeat.com, the stock currently has an average 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.