Bessemer Group Inc. Sells 103,091 Shares of GE Vernova Inc. (NYSE:GEV)

Bessemer Group Inc. decreased its position in GE Vernova Inc. (NYSE:GEV) by 35.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 184,585 shares of the company’s stock after selling 103,091 shares during the period. Bessemer Group Inc.’s holdings in GE Vernova were worth $56,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GEV. Brighton Jones LLC raised its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. MONECO Advisors LLC purchased a new position in shares of GE Vernova during the fourth quarter valued at $284,000. Y Intercept Hong Kong Ltd purchased a new position in shares of GE Vernova during the fourth quarter valued at $1,073,000. IFP Advisors Inc raised its holdings in shares of GE Vernova by 16.2% in the fourth quarter. IFP Advisors Inc now owns 4,835 shares of the company’s stock valued at $1,590,000 after acquiring an additional 675 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its stake in GE Vernova by 9.8% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 4,970 shares of the company’s stock worth $1,635,000 after acquiring an additional 443 shares during the period.

GE Vernova Trading Down 1.5%

NYSE:GEV opened at $502.99 on Thursday. GE Vernova Inc. has a twelve month low of $150.01 and a twelve month high of $522.97. The company has a market cap of $137.28 billion, a PE ratio of 72.48, a P/E/G ratio of 3.97 and a beta of 1.97. The company’s 50 day moving average is $436.25 and its two-hundred day moving average is $374.00.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.37 by $0.54. The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) earnings per share. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.20%. GE Vernova’s dividend payout ratio is currently 14.41%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GEV. Guggenheim reiterated a “buy” rating and set a $380.00 target price on shares of GE Vernova in a report on Thursday, April 24th. Royal Bank Of Canada cut their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Barclays boosted their price objective on shares of GE Vernova from $500.00 to $550.00 and gave the stock an “overweight” rating in a research note on Monday, June 9th. Morgan Stanley increased their target price on GE Vernova from $422.00 to $511.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Jefferies Financial Group downgraded GE Vernova from a “buy” rating to a “hold” rating and lifted their price target for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $429.13.

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.