Liontrust Investment Partners LLP Cuts Stock Holdings in GE Vernova Inc. $GEV

Liontrust Investment Partners LLP trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 49.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,037 shares of the company’s stock after selling 13,878 shares during the period. Liontrust Investment Partners LLP’s holdings in GE Vernova were worth $7,428,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of GE Vernova in the 2nd quarter worth $1,809,220,000. Arrowstreet Capital Limited Partnership grew its position in GE Vernova by 273.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company’s stock worth $798,126,000 after acquiring an additional 1,104,747 shares in the last quarter. AQR Capital Management LLC grew its position in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Amundi increased its stake in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after acquiring an additional 868,927 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GEV shares. Mizuho cut their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a report on Friday, October 24th. BMO Capital Markets boosted their target price on GE Vernova from $710.00 to $780.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Citigroup decreased their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $654.54.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $672.32 on Monday. 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 price is $597.06 and its 200-day moving average price is $583.51. The stock has a market capitalization of $182.41 billion, a price-to-earnings ratio of 109.50, a P/E/G ratio of 5.12 and a beta of 1.71.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share 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 net margin of 4.52% and a return on equity of 17.07%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) EPS. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 5th will be issued a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is presently 16.29%.

GE Vernova Profile

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.