New York Life Investment Management LLC Acquires 71 Shares of GE Vernova Inc. $GEV

New York Life Investment Management LLC increased its holdings in GE Vernova Inc. (NYSE:GEV) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,857 shares of the company’s stock after buying an additional 71 shares during the period. New York Life Investment Management LLC’s holdings in GE Vernova were worth $21,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GEV. IMA Advisory Services Inc. bought a new position in GE Vernova in the 1st quarter worth approximately $27,000. WFA Asset Management Corp bought a new position in GE Vernova in the 2nd quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings 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 buying an additional 53 shares during the period. 1248 Management LLC bought a new position in GE Vernova in the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the 1st quarter worth approximately $33,000.

Analyst Ratings Changes

GEV has been the topic of several recent analyst reports. BMO Capital Markets increased their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Wells Fargo & Company increased their target price on shares of GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research note on Friday. Rothschild & Co Redburn reiterated a “sell” rating and issued a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley increased their target price on shares of GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $607.07.

Insider Buying and Selling at GE Vernova

In other 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 transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

GE Vernova stock opened at $584.50 on Tuesday. The firm’s fifty day moving average price is $610.51 and its 200-day moving average price is $534.28. The stock has a market cap of $158.59 billion, a P/E ratio of 95.20, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week 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 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 quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend payout ratio (DPR) is 16.29%.

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.