Hedges Asset Management LLC Trims Stock Position in GE Vernova Inc. $GEV

Hedges Asset Management LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 72.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 500 shares of the company’s stock after selling 1,300 shares during the period. Hedges Asset Management LLC’s holdings in GE Vernova were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of GEV. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the second quarter worth $29,000. 1248 Management LLC bought a new position in GE Vernova in the 1st quarter worth about $31,000. Howard Hughes Medical Institute purchased a new stake in shares of GE Vernova in the 2nd quarter valued at about $31,000. Monetary Management Group Inc. purchased a new stake in shares of GE Vernova in the 2nd quarter valued at about $32,000. Finally, Saudi Central Bank bought a new stake in shares of GE Vernova during the 1st quarter valued at about $33,000.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $615.86 on Thursday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $731.00. The stock has a market capitalization of $167.10 billion, a price-to-earnings ratio of 100.30, a price-to-earnings-growth ratio of 5.23 and a beta of 1.71. The company has a fifty day moving average of $600.06 and a 200-day moving average of $586.71.

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

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be paid a $0.50 dividend. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, January 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.3%. GE Vernova’s dividend payout ratio is presently 16.29%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a research note on Monday, September 15th. Barclays increased their price target on shares of GE Vernova from $710.00 to $720.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. TD Cowen cut their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, Rothschild & Co Redburn reissued a “sell” rating and issued a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $680.52.

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.