Quilter Plc Sells 59 Shares of GE Vernova Inc. (NYSE:GEV)

Quilter Plc cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 658 shares of the company’s stock after selling 59 shares during the period. Quilter Plc’s holdings in GE Vernova were worth $201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in GE Vernova by 79.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company’s stock worth $67,622,000 after purchasing an additional 98,034 shares in the last quarter. Grandview Asset Management LLC raised its position in shares of GE Vernova by 48.8% in the first quarter. Grandview Asset Management LLC now owns 2,149 shares of the company’s stock worth $656,000 after buying an additional 705 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of GE Vernova by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 32,340 shares of the company’s stock worth $9,872,000 after buying an additional 910 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in GE Vernova by 21.3% during the first quarter. Flagship Harbor Advisors LLC now owns 2,435 shares of the company’s stock valued at $743,000 after buying an additional 427 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its position in GE Vernova by 104.7% during the first quarter. Dynamic Advisor Solutions LLC now owns 8,661 shares of the company’s stock worth $2,644,000 after buying an additional 4,429 shares in the last quarter.

GE Vernova Trading Up 0.8%

Shares of NYSE:GEV opened at $506.74 on Friday. The company has a 50-day moving average price of $439.93 and a 200-day moving average price of $375.18. The company has a market cap of $138.30 billion, a price-to-earnings ratio of 73.02, a price-to-earnings-growth ratio of 3.90 and a beta of 1.97. GE Vernova Inc. has a 12 month low of $150.01 and a 12 month high of $522.97.

GE Vernova (NYSE:GEV) last released its quarterly 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. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a return on equity of 10.10% and a net margin of 5.42%. GE Vernova’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.47) EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Monday, July 21st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is currently 14.41%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their price target on GE Vernova from $422.00 to $511.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group lowered shares of GE Vernova from a “buy” rating to a “hold” rating and lifted their target price for the company from $427.00 to $517.00 in a research report on Thursday, May 29th. Robert W. Baird increased their price target 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. Barclays lifted their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a report on Monday, June 9th. Finally, Truist Financial set a $440.00 target price on GE Vernova in a research note on Thursday, March 27th. Eight investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $429.13.

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.