GE Vernova Inc. $GEV Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV) by 68.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,029 shares of the company’s stock after selling 52,141 shares during the quarter. Jefferies Financial Group Inc.’s holdings in GE Vernova were worth $14,775,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Good Life Advisors LLC increased its position in shares of GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares during the last quarter. Bell Investment Advisors Inc lifted its position in shares of GE Vernova by 6.7% during the second quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares during the last quarter. Northwest Wealth Management LLC grew its stake in GE Vernova by 3.6% in the third quarter. Northwest Wealth Management LLC now owns 465 shares of the company’s stock worth $286,000 after purchasing an additional 16 shares in the last quarter. Traphagen Investment Advisors LLC grew its stake in GE Vernova by 1.2% in the third quarter. Traphagen Investment Advisors LLC now owns 1,418 shares of the company’s stock worth $872,000 after purchasing an additional 17 shares in the last quarter. Finally, Navigoe LLC increased its holdings in GE Vernova by 20.2% in the third quarter. Navigoe LLC now owns 101 shares of the company’s stock valued at $62,000 after buying an additional 17 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GEV. Bank of America upped their price objective on GE Vernova from $725.00 to $804.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Wolfe Research upgraded GE Vernova from a “peer perform” rating to a “buy” rating in a research report on Wednesday, December 10th. Weiss Ratings raised GE Vernova from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th. Wells Fargo & Company raised their price objective on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Glj Research lifted their price objective on shares of GE Vernova from $758.00 to $1,087.00 and gave the stock a “buy” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $805.25.

GE Vernova Stock Down 3.1%

Shares of GEV stock opened at $790.00 on Monday. The company has a market cap of $212.93 billion, a P/E ratio of 44.38, a PEG ratio of 3.14 and a beta of 1.45. The business has a 50 day moving average of $743.08 and a two-hundred day moving average of $656.48. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93.

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

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 0.3%. GE Vernova’s dividend payout ratio (DPR) is currently 11.24%.

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.