Westfield Capital Management Co. LP Cuts Stock Holdings in GE Vernova Inc. $GEV

Westfield Capital Management Co. LP lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 18.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,736 shares of the company’s stock after selling 59,552 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.10% of GE Vernova worth $163,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Synergy Asset Management LLC boosted its stake in shares of GE Vernova by 300.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares during the period. J.W. Cole Advisors Inc. raised its holdings in GE Vernova by 25.3% in the third quarter. J.W. Cole Advisors Inc. now owns 16,247 shares of the company’s stock valued at $9,990,000 after acquiring an additional 3,278 shares in the last quarter. Kercheville Advisors LLC raised its holdings in GE Vernova by 238.3% in the third quarter. Kercheville Advisors LLC now owns 4,905 shares of the company’s stock valued at $3,016,000 after acquiring an additional 3,455 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in GE Vernova in the third quarter worth approximately $18,601,000. Finally, Vanguard Group Inc. grew its holdings in GE Vernova by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 24,815,463 shares of the company’s stock worth $15,259,028,000 after acquiring an additional 150,892 shares in the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $874.61 on Thursday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $894.93. The company has a market capitalization of $235.73 billion, a P/E ratio of 49.14, a PEG ratio of 3.50 and a beta of 1.67. The stock has a 50-day simple moving average of $716.98 and a 200-day simple moving average of $645.60.

GE Vernova (NYSE:GEV) last released 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. GE Vernova had a return on equity of 46.91% and a net margin of 12.83%.The firm had revenue of $10.96 billion for the quarter, compared to the consensus estimate of $10.21 billion. During the same quarter last year, the business posted $1.73 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, 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. Stockholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s payout ratio is presently 11.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, January 29th. TD Cowen lifted their price target on GE Vernova from $680.00 to $780.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Citigroup increased their price objective on GE Vernova from $708.00 to $779.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Evercore raised their target price on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada upped their price target on GE Vernova from $761.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.