Carnegie Investment Counsel Sells 2,643 Shares of GE Vernova Inc. $GEV

Carnegie Investment Counsel decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,315 shares of the company’s stock after selling 2,643 shares during the period. Carnegie Investment Counsel’s holdings in GE Vernova were worth $19,256,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Comprehensive Financial Consultants Institutional Inc. grew its position in shares of GE Vernova by 2.8% in the third quarter. Comprehensive Financial Consultants Institutional Inc. now owns 4,950 shares of the company’s stock valued at $3,044,000 after purchasing an additional 135 shares during the last quarter. Lowe Wealth Advisors LLC increased its position in shares of GE Vernova by 41.8% in the third quarter. Lowe Wealth Advisors LLC now owns 129 shares of the company’s stock worth $79,000 after purchasing an additional 38 shares during the period. HBW Advisory Services LLC raised its stake in GE Vernova by 204.4% in the third quarter. HBW Advisory Services LLC now owns 2,761 shares of the company’s stock valued at $1,698,000 after purchasing an additional 1,854 shares in the last quarter. Emprise Bank acquired a new stake in shares of GE Vernova during the 3rd quarter worth approximately $222,000. Finally, KRS Capital Management LLC increased its stake in shares of GE Vernova by 8.9% in the 3rd quarter. KRS Capital Management LLC now owns 1,854 shares of the company’s stock valued at $1,140,000 after purchasing an additional 151 shares during the last quarter.

GE Vernova Stock Down 0.5%

NYSE GEV opened at $663.65 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The business has a 50 day moving average price of $605.33 and a 200-day moving average price of $594.41. The company has a market cap of $180.06 billion, a price-to-earnings ratio of 108.09, a P/E/G ratio of 5.09 and a beta of 1.71.

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

GE Vernova Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Seaport Res Ptn cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Mizuho dropped their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Evercore ISI initiated coverage on shares of GE Vernova in a research report on Monday, December 15th. They set an “outperform” rating and a $860.00 target price on the stock. Wells Fargo & Company lifted their target price on GE Vernova from $717.00 to $831.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $691.11.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.