Newport Trust Company LLC Sells 108,160 Shares of GE Vernova Inc. $GEV

Newport Trust Company LLC reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,564,735 shares of the company’s stock after selling 108,160 shares during the quarter. GE Vernova makes up approximately 2.8% of Newport Trust Company LLC’s holdings, making the stock its 10th biggest position. Newport Trust Company LLC owned approximately 1.31% of GE Vernova worth $1,088,242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Navigoe LLC bought a new stake in GE Vernova during the 4th quarter worth about $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova in the first quarter valued at about $27,000. Orion Capital Management LLC bought a new stake in GE Vernova during the fourth quarter worth about $30,000. Finally, EQ Wealth Advisors LLC bought a new stake in GE Vernova during the first quarter worth about $27,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on GEV shares. The Goldman Sachs Group raised their price target on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a “buy” rating on the stock. BMO Capital Markets upped their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Barclays lifted their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Citigroup boosted their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $560.21.

GE Vernova Price Performance

NYSE:GEV opened at $605.9280 on Friday. The company has a market cap of $164.95 billion, a P/E ratio of 146.01, a P/E/G ratio of 4.18 and a beta of 1.90. The firm’s fifty day moving average price is $574.01 and its two-hundred day moving average price is $439.65. GE Vernova Inc. has a one year low of $173.07 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter last year, the company posted $4.65 EPS. GE Vernova’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 24.10%.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.