GE Vernova Inc. (NYSE:GEV) Shares Sold by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 99.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 885 shares of the company’s stock after selling 117,143 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in GE Vernova were worth $291,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. World Investment Advisors LLC increased its stake in GE Vernova by 41.4% during the 3rd quarter. World Investment Advisors LLC now owns 2,876 shares of the company’s stock valued at $733,000 after purchasing an additional 842 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of GE Vernova by 219.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 10,265 shares of the company’s stock valued at $2,617,000 after buying an additional 7,054 shares during the last quarter. Tidal Investments LLC increased its position in shares of GE Vernova by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock valued at $1,854,000 after acquiring an additional 374 shares during the period. Franklin Resources Inc. raised its stake in GE Vernova by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock worth $533,257,000 after acquiring an additional 71,067 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in GE Vernova by 2.4% during the 3rd quarter. Retirement Systems of Alabama now owns 61,894 shares of the company’s stock worth $15,782,000 after acquiring an additional 1,433 shares during the period.

GE Vernova Stock Up 3.7 %

GEV opened at $396.48 on Friday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $447.50. The company has a market cap of $108.21 billion and a PE ratio of 71.31. The company has a 50-day moving average price of $322.79 and a 200 day moving average price of $336.27.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. During the same quarter last year, the business posted ($0.47) earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. GE Vernova’s payout ratio is 14.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GEV shares. The Goldman Sachs Group increased their price objective on GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a report on Friday, January 24th. Morgan Stanley reissued an “overweight” rating and set a $422.00 price target (up from $400.00) on shares of GE Vernova in a research report on Thursday, April 24th. Truist Financial set a $440.00 price objective on shares of GE Vernova in a report on Thursday, March 27th. Robert W. Baird raised their target price on shares of GE Vernova from $387.00 to $405.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Susquehanna upped their price target on shares of GE Vernova from $370.00 to $399.00 and gave the company a “positive” rating in a report on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $369.22.

GE Vernova Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.