Sirios Capital Management L P Cuts Holdings in GE Vernova Inc. (NYSE:GEV)

Sirios Capital Management L P reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 187,040 shares of the company's stock after selling 29,981 shares during the quarter. GE Vernova makes up 11.0% of Sirios Capital Management L P's investment portfolio, making the stock its largest holding. Sirios Capital Management L P owned approximately 0.07% of GE Vernova worth $61,523,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Register Financial Advisors LLC bought a new stake in shares of GE Vernova during the 4th quarter worth $206,000. GPS Wealth Strategies Group LLC boosted its holdings in GE Vernova by 1,126.0% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 895 shares of the company's stock valued at $294,000 after acquiring an additional 822 shares during the period. Yarbrough Capital LLC grew its position in shares of GE Vernova by 67.2% in the fourth quarter. Yarbrough Capital LLC now owns 2,886 shares of the company's stock valued at $949,000 after purchasing an additional 1,160 shares during the last quarter. Legacy Bridge LLC increased its stake in shares of GE Vernova by 77.0% in the fourth quarter. Legacy Bridge LLC now owns 10,982 shares of the company's stock worth $3,612,000 after purchasing an additional 4,776 shares during the period. Finally, CENTRAL TRUST Co lifted its position in shares of GE Vernova by 16.6% during the 4th quarter. CENTRAL TRUST Co now owns 9,872 shares of the company's stock worth $3,247,000 after purchasing an additional 1,408 shares during the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on GE Vernova from $391.00 to $413.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Robert W. Baird lowered their price objective on shares of GE Vernova from $448.00 to $387.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Citigroup decreased their price target on shares of GE Vernova from $437.00 to $354.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, Baird R W raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $365.54.

GE Vernova Trading Up 4.4 %

NYSE:GEV opened at $326.94 on Wednesday. The stock has a market capitalization of $89.37 billion and a P/E ratio of 58.80. GE Vernova Inc. has a 1 year low of $137.87 and a 1 year high of $447.50. The firm has a 50 day moving average of $319.66 and a 200-day moving average of $330.98.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.70 billion. The company's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Thursday, April 17th. GE Vernova's dividend payout ratio is currently 17.99%.

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.

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