Los Angeles Capital Management LLC Trims Stock Position in GE Vernova Inc. $GEV

Los Angeles Capital Management LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 33.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,642 shares of the company’s stock after selling 6,303 shares during the period. Los Angeles Capital Management LLC’s holdings in GE Vernova were worth $6,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. ZEGA Investments LLC acquired a new stake in GE Vernova during the 2nd quarter worth about $1,655,000. Prospera Financial Services Inc boosted its stake in shares of GE Vernova by 113.0% in the second quarter. Prospera Financial Services Inc now owns 6,760 shares of the company’s stock worth $3,581,000 after buying an additional 3,587 shares during the last quarter. RWA Wealth Partners LLC boosted its stake in shares of GE Vernova by 26.6% in the second quarter. RWA Wealth Partners LLC now owns 12,445 shares of the company’s stock worth $6,585,000 after buying an additional 2,618 shares during the last quarter. AGF Management Ltd. acquired a new stake in GE Vernova during the second quarter worth about $91,540,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in GE Vernova during the second quarter valued at approximately $365,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $575.61 on Monday. The firm has a fifty day moving average of $602.58 and a 200 day moving average of $551.35. The firm has a market cap of $156.18 billion, a PE ratio of 93.75, a PEG ratio of 4.28 and a beta of 1.69. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company 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 business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s payout ratio is presently 16.29%.

Insider Activity at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Wells Fargo & Company boosted their target price on shares of GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Royal Bank Of Canada increased their price target on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. UBS Group set a $710.00 price target on shares of GE Vernova in a research report on Thursday, October 23rd. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Company 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.