Ensign Peak Advisors Inc Boosts Position in GE Vernova Inc. $GEV

Ensign Peak Advisors Inc raised its position in GE Vernova Inc. (NYSE:GEV) by 115.2% during the 2nd quarter, Holdings Channel reports. The firm owned 375,545 shares of the company’s stock after acquiring an additional 201,034 shares during the quarter. Ensign Peak Advisors Inc’s holdings in GE Vernova were worth $198,720,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the 1st quarter valued at approximately $27,000. WFA Asset Management Corp acquired a new position in shares of GE Vernova in the second quarter worth $29,000. 1248 Management LLC purchased a new stake in shares of GE Vernova in the first quarter valued at $31,000. Saudi Central Bank acquired a new stake in shares of GE Vernova during the first quarter valued at $33,000. Finally, Ransom Advisory Ltd purchased a new stake in GE Vernova during the 1st quarter worth about $33,000.

GE Vernova Stock Up 7.4%

Shares of GEV stock opened at $596.14 on Thursday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm’s 50 day moving average price is $598.44 and its two-hundred day moving average price is $561.28. The stock has a market cap of $161.74 billion, a price-to-earnings ratio of 97.09, a price-to-earnings-growth ratio of 4.13 and a beta of 1.68.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion during 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 was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th 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 of this dividend was Monday, October 20th. GE Vernova’s payout ratio is presently 16.29%.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on GEV. UBS Group set a $710.00 target price on shares of GE Vernova in a report on Thursday, October 23rd. Morgan Stanley raised their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Rothschild Redb downgraded GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. HSBC raised their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Finally, Cowen reiterated a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $607.81.

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.