ProShare Advisors LLC Boosts Position in GE Vernova Inc. $GEV

ProShare Advisors LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 8.2% during the second quarter, HoldingsChannel.com reports. The fund owned 48,070 shares of the company’s stock after acquiring an additional 3,638 shares during the period. ProShare Advisors LLC’s holdings in GE Vernova were worth $25,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Profund Advisors LLC grew its position in GE Vernova by 29.7% in the second quarter. Profund Advisors LLC now owns 3,853 shares of the company’s stock worth $2,039,000 after acquiring an additional 883 shares in the last quarter. Summit X LLC lifted its position in GE Vernova by 12.6% in the second quarter. Summit X LLC now owns 1,313 shares of the company’s stock valued at $695,000 after purchasing an additional 147 shares during the last quarter. Roberts Glore & Co. Inc. IL purchased a new stake in GE Vernova during the 2nd quarter valued at $270,000. PFG Advisors grew its stake in shares of GE Vernova by 28.9% in the second quarter. PFG Advisors now owns 5,296 shares of the company’s stock worth $2,803,000 after purchasing an additional 1,186 shares during the last quarter. Finally, Zions Bancorporation National Association UT increased its stake in shares of GE Vernova by 8.4% during the second quarter. Zions Bancorporation National Association UT now owns 477 shares of the company’s stock valued at $252,000 after buying an additional 37 shares during the period.

GE Vernova Stock Down 0.8%

Shares of NYSE:GEV opened at $575.37 on Wednesday. The stock has a market cap of $156.11 billion, a P/E ratio of 93.71, a price-to-earnings-growth ratio of 4.31 and a beta of 1.68. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The business’s 50 day moving average is $601.80 and its 200 day moving average is $554.33.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 16.29%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, 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. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. TD Cowen lowered their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Bank of America lifted their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Wells Fargo & Company increased their target price on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Four 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.