Convergence Investment Partners LLC Decreases Holdings in GE Vernova Inc. $GEV

Convergence Investment Partners LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV) by 16.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,358 shares of the company’s stock after selling 470 shares during the quarter. Convergence Investment Partners LLC’s holdings in GE Vernova were worth $1,248,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GEV. IMA Advisory Services Inc. purchased a new position in GE Vernova in the 1st quarter worth approximately $27,000. WFA Asset Management Corp purchased a new position in GE Vernova in the 2nd quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares during the period. 1248 Management LLC purchased a new position in GE Vernova in the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank purchased a new position in GE Vernova in the 1st quarter worth approximately $33,000.

GE Vernova Stock Performance

GEV opened at $584.68 on Monday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The stock has a market capitalization of $158.64 billion, a PE ratio of 95.23, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72. The stock’s 50 day moving average price is $611.31 and its 200-day moving average price is $532.47.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Rothschild & Co Redburn reaffirmed a “sell” rating and issued a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Morgan Stanley lifted their price target on GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Citigroup decreased their price target on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday. Susquehanna boosted their target price on GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $607.59.

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.