976 GE Vernova Inc. $GEV Shares Sold by RVW Wealth LLC

by · The Cerbat Gem

RVW Wealth LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 41.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,356 shares of the company’s stock after selling 976 shares during the quarter. RVW Wealth LLC’s holdings in GE Vernova were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Auto Owners Insurance Co lifted its position in GE Vernova by 110,973.4% in the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after purchasing an additional 34,826,773 shares during the last quarter. BlackRock Inc. bought a new position in shares of GE Vernova in the second quarter worth approximately $25,569,630,000. Bank of America Corp DE bought a new position in shares of GE Vernova in the second quarter worth approximately $2,961,612,000. Bank of New York Mellon Corp purchased a new position in shares of GE Vernova in the second quarter worth $2,497,472,000. Finally, Jupiter Topco LLC purchased a new position in shares of GE Vernova in the second quarter worth $2,371,538,000.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEV shares. BNP Paribas Exane dropped their price target on shares of GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating for the company in a research report on Thursday, August 20th. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Guggenheim upped their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a report on Monday, August 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,171.87.

Get Our Latest Research Report on GEV

GE Vernova Stock Up 3.9%

Shares of GEV stock traded up $38.71 during midday trading on Tuesday, reaching $1,028.71. 2,526,386 shares of the stock were exchanged, compared to its average volume of 2,654,039. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94. The company’s 50 day moving average is $963.54 and its two-hundred day moving average is $995.50. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The firm has a market cap of $273.98 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 3.35 and a beta of 1.14.

GE Vernova (NYSE:GEV – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same period in the prior year, the business posted $1.86 EPS. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts predict that GE Vernova Inc. will post 15.38 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s dividend payout ratio (DPR) is 5.72%.

GE Vernova Profile

(Free Report)

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.

See Also

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