Mission Creek Capital Partners Inc. Sells 344 Shares of GE Vernova Inc. $GEV

Mission Creek Capital Partners Inc. lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 7.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,098 shares of the company’s stock after selling 344 shares during the period. Mission Creek Capital Partners Inc.’s holdings in GE Vernova were worth $1,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova during the 1st quarter valued at about $912,000. Resona Asset Management Co. Ltd. raised its position in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after buying an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new position in GE Vernova during the 1st quarter valued at about $458,000. Golden State Wealth Management LLC boosted its holdings in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after acquiring an additional 817 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of GE Vernova by 8.5% in the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company’s stock worth $11,485,000 after acquiring an additional 2,942 shares during the period.

Analyst Ratings Changes

GEV has been the topic of several research reports. BMO Capital Markets raised their target price on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. The Goldman Sachs Group raised their target price on shares of GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and increased their price objective for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Finally, Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $560.21.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 0.4%

Shares of GEV stock opened at $623.32 on Thursday. The company’s fifty day simple moving average is $584.29 and its two-hundred day simple moving average is $446.42. GE Vernova Inc. has a 52 week low of $180.77 and a 52 week high of $677.29. The stock has a market cap of $169.68 billion, a P/E ratio of 150.20, a PEG ratio of 4.33 and a beta of 1.90.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the previous year, the firm posted $4.65 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova’s dividend payout ratio is currently 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.