QRG Capital Management Inc. Sells 6,256 Shares of GE Vernova Inc. (NYSE:GEV)

QRG Capital Management Inc. lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 14.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,137 shares of the company’s stock after selling 6,256 shares during the period. QRG Capital Management Inc.’s holdings in GE Vernova were worth $11,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kovack Advisors Inc. boosted its holdings in shares of GE Vernova by 1.0% during the fourth quarter. Kovack Advisors Inc. now owns 3,167 shares of the company’s stock worth $1,042,000 after purchasing an additional 31 shares during the period. Fulcrum Equity Management grew its stake in GE Vernova by 3.6% in the fourth quarter. Fulcrum Equity Management now owns 886 shares of the company’s stock worth $291,000 after purchasing an additional 31 shares during the period. Rothschild Investment LLC lifted its position in GE Vernova by 1.7% during the first quarter. Rothschild Investment LLC now owns 1,965 shares of the company’s stock valued at $600,000 after buying an additional 33 shares during the period. Johnson & White Wealth Management LLC boosted its holdings in shares of GE Vernova by 3.7% during the 1st quarter. Johnson & White Wealth Management LLC now owns 929 shares of the company’s stock valued at $284,000 after buying an additional 33 shares in the last quarter. Finally, NewSquare Capital LLC grew its position in shares of GE Vernova by 32.4% in the 4th quarter. NewSquare Capital LLC now owns 139 shares of the company’s stock worth $46,000 after buying an additional 34 shares during the period.

GE Vernova Stock Up 1.9%

NYSE GEV opened at $487.69 on Tuesday. The company has a 50-day moving average price of $412.15 and a 200-day moving average price of $366.91. GE Vernova Inc. has a 52 week low of $150.01 and a 52 week high of $500.72. The firm has a market capitalization of $133.11 billion, a P/E ratio of 87.71, a PEG ratio of 3.03 and a beta of 1.97.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the company earned ($0.47) earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.21%. GE Vernova’s dividend payout ratio is currently 14.41%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GEV shares. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $430.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. BMO Capital Markets lifted their target price on shares of GE Vernova from $381.00 to $522.00 and gave the company an “outperform” rating in a report on Friday, May 30th. New Street Research set a $380.00 price objective on GE Vernova in a research report on Wednesday, March 5th. Guggenheim reiterated a “buy” rating and set a $380.00 price objective on shares of GE Vernova in a research note on Thursday, April 24th. Finally, TD Cowen cut their target price on GE Vernova from $405.00 to $390.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $404.56.

GE Vernova Company 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.