GE Vernova Inc. $GEV Shares Sold by Radnor Capital Management LLC

by · The Cerbat Gem

Radnor Capital Management LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV – Free Report) by 7.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 15,336 shares of the company’s stock after selling 1,264 shares during the quarter. GE Vernova comprises approximately 1.4% of Radnor Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Radnor Capital Management LLC’s holdings in GE Vernova were worth $9,430,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp acquired a new position in GE Vernova in the second quarter worth $29,000. 1248 Management LLC bought a new position in shares of GE Vernova in the 1st quarter worth about $31,000. Howard Hughes Medical Institute acquired a new position in shares of GE Vernova in the 2nd quarter valued at about $31,000. Bay Harbor Wealth Management LLC boosted its holdings in shares of GE Vernova by 537.5% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock valued at $31,000 after buying an additional 43 shares during the period. Finally, Monetary Management Group Inc. bought a new stake in shares of GE Vernova during the 2nd quarter valued at about $32,000.

GE Vernova Price Performance

GEV opened at $678.29 on Friday. The stock’s 50 day moving average price is $612.80 and its 200 day moving average price is $601.50. The stock has a market cap of $184.03 billion, a P/E ratio of 110.47, a P/E/G ratio of 2.85 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 – Get Free Report) last released 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). The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be given 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 payout ratio is currently 16.29%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Redburn Partners set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Citigroup cut their price target on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Morgan Stanley boosted their price objective on GE Vernova from $710.00 to $822.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Melius Research set a $740.00 target price on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Oppenheimer upgraded GE Vernova from a “market perform” rating to an “outperform” rating and set a $855.00 target price on the stock in a research note on Wednesday, December 10th. 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 given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $691.11.

Read Our Latest Analysis on GE Vernova

About GE Vernova

(Free Report)

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.

Read More

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV – Free Report).