GE Vernova Inc. $GEV Shares Sold by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 22.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,691 shares of the company’s stock after selling 2,795 shares during the quarter. Ascent Wealth Partners LLC’s holdings in GE Vernova were worth $5,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC boosted its position in shares of GE Vernova by 16.3% during the 3rd quarter. Global Retirement Partners LLC now owns 6,997 shares of the company’s stock worth $4,302,000 after purchasing an additional 983 shares during the period. Verity & Verity LLC purchased a new position in shares of GE Vernova during the third quarter worth $215,000. Fulton Bank N.A. grew its stake in shares of GE Vernova by 5.1% in the third quarter. Fulton Bank N.A. now owns 913 shares of the company’s stock valued at $561,000 after buying an additional 44 shares in the last quarter. Synergy Asset Management LLC raised its holdings in shares of GE Vernova by 300.0% in the 3rd quarter. Synergy Asset Management LLC now owns 1,884 shares of the company’s stock valued at $1,078,000 after buying an additional 1,413 shares during the period. Finally, First City Capital Management Inc. purchased a new stake in shares of GE Vernova in the 3rd quarter valued at $216,000.

GE Vernova Trading Up 3.8%

Shares of NYSE:GEV opened at $678.29 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $731.00. The company’s 50 day moving average is $612.80 and its two-hundred day moving average is $601.50. The company has a market cap of $184.03 billion, a PE ratio of 110.47, a P/E/G ratio of 2.85 and a beta of 1.67.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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). The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm posted ($0.35) earnings per share. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on GEV. 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 shares of GE Vernova from $735.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. 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. Evercore ISI started coverage on shares of GE Vernova in a report on Monday, December 15th. They set an “outperform” rating and a $860.00 target price on the stock. Finally, Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average 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.