Sound Income Strategies LLC Sells 122 Shares of GE Vernova Inc. (NYSE:GEV)

Sound Income Strategies LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 25.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 362 shares of the company’s stock after selling 122 shares during the quarter. Sound Income Strategies LLC’s holdings in GE Vernova were worth $111,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GEV. Principal Securities Inc. grew its stake in shares of GE Vernova by 29.0% in the fourth quarter. Principal Securities Inc. now owns 1,892 shares of the company’s stock worth $622,000 after purchasing an additional 425 shares during the last quarter. O Neil Global Advisors Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth $2,064,000. Axiom Investors LLC DE bought a new stake in shares of GE Vernova in the fourth quarter worth $123,157,000. Private Advisor Group LLC grew its stake in shares of GE Vernova by 34.2% in the fourth quarter. Private Advisor Group LLC now owns 26,971 shares of the company’s stock worth $8,872,000 after purchasing an additional 6,873 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of GE Vernova by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company’s stock worth $1,898,814,000 after purchasing an additional 195,828 shares during the last quarter.

GE Vernova Price Performance

GEV opened at $487.69 on Tuesday. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The firm has a market capitalization of $133.11 billion, a PE ratio of 87.71, a P/E/G ratio of 3.03 and a beta of 1.97. The company’s 50-day moving average is $412.15 and its 200 day moving average is $366.91.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.54. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the business posted ($0.47) EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.21%. GE Vernova’s dividend payout ratio is presently 14.41%.

Analysts Set New Price Targets

GEV has been the topic of several analyst reports. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $430.00 to $460.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. CICC Research started coverage on shares of GE Vernova in a report on Wednesday, February 19th. They issued an “outperform” rating on the stock. Robert W. Baird boosted their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, New Street Research set a $380.00 target price on shares of GE Vernova in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $404.56.

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.