Braun Stacey Associates Inc. Trims Position in GE Vernova Inc. $GEV

Braun Stacey Associates Inc. decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,011 shares of the company’s stock after selling 5,796 shares during the quarter. Braun Stacey Associates Inc.’s holdings in GE Vernova were worth $24,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. WFA Asset Management Corp acquired a new stake in GE Vernova in the 2nd quarter worth about $29,000. 1248 Management LLC purchased a new position in shares of GE Vernova during the 1st quarter worth about $31,000. Howard Hughes Medical Institute acquired a new stake in shares of GE Vernova in the second quarter worth approximately $31,000. Bay Harbor Wealth Management LLC grew its holdings in GE Vernova by 537.5% in the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after purchasing an additional 43 shares during the period. Finally, Monetary Management Group Inc. acquired a new position in GE Vernova during the second quarter worth approximately $32,000.

GE Vernova Price Performance

NYSE:GEV opened at $653.24 on Friday. The business’s 50-day moving average is $610.93 and its two-hundred day moving average is $599.39. The firm has a market capitalization of $177.24 billion, a PE ratio of 106.39, a price-to-earnings-growth ratio of 4.98 and a beta of 1.67. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $731.00.

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

GE Vernova Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders 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 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%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Citigroup decreased their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Wells Fargo & Company lifted their target price on GE Vernova from $717.00 to $831.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Seaport Res Ptn downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. The Goldman Sachs Group raised their price objective on GE Vernova from $735.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.11.

GE Vernova 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.