Diametric Capital LP Has $252,000 Holdings in GE Vernova Inc. $GEV

Diametric Capital LP trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 70.4% in the 2nd quarter, Holdings Channel reports. The fund owned 477 shares of the company’s stock after selling 1,136 shares during the quarter. Diametric Capital LP’s holdings in GE Vernova were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. WFA Asset Management Corp bought a new stake in GE Vernova in the 2nd quarter valued at $29,000. 1248 Management LLC bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $31,000. Saudi Central Bank acquired a new stake in shares of GE Vernova during the 1st quarter worth approximately $33,000. Ransom Advisory Ltd bought a new stake in shares of GE Vernova during the first quarter valued at approximately $33,000. Finally, Highline Wealth Partners LLC raised its stake in shares of GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares in the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GEV. Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Royal Bank Of Canada lifted their target price on shares of GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. HSBC increased their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Barclays lifted their price objective on GE Vernova from $710.00 to $720.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $616.08.

GE Vernova Trading Up 0.3%

Shares of GE Vernova stock opened at $630.70 on Friday. The stock has a market capitalization of $171.12 billion, a price-to-earnings ratio of 102.72, a P/E/G ratio of 4.70 and a beta of 1.71. The firm’s 50-day moving average price is $590.63 and its two-hundred day moving average price is $575.61. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s dividend payout ratio is presently 16.29%.

About GE Vernova

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.