GE Vernova Inc. $GEV Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its stake in GE Vernova Inc. (NYSE:GEV) by 34.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,575,226 shares of the company’s stock after selling 1,339,798 shares during the period. Price T Rowe Associates Inc. MD owned about 0.94% of GE Vernova worth $786,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. GAMMA Investing LLC increased its stake in shares of GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after buying an additional 2,135,066 shares during the period. TD Asset Management Inc grew its holdings in GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after acquiring an additional 799,388 shares in the last quarter. Nuveen LLC acquired a new position in GE Vernova during the 1st quarter worth approximately $223,556,000. Jacobs Levy Equity Management Inc. increased its position in shares of GE Vernova by 148.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company’s stock valued at $379,974,000 after purchasing an additional 690,513 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after purchasing an additional 684,794 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently commented on GEV shares. Glj Research began coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a “buy” rating for the company. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Wolfe Research cut GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. TD Cowen raised their target price on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, July 24th. Four investment 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 company. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $560.21.

GE Vernova Stock Performance

GEV opened at $605.9280 on Friday. GE Vernova Inc. has a one year low of $173.07 and a one year high of $677.29. The stock has a market capitalization of $164.95 billion, a P/E ratio of 146.01, a price-to-earnings-growth ratio of 4.18 and a beta of 1.90. The business’s 50-day simple moving average is $574.01 and its 200-day simple moving average is $439.65.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm 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. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 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.