Redwood Investments LLC Buys Shares of 7,264 GE Vernova Inc. $GEV

Redwood Investments LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,264 shares of the company’s stock, valued at approximately $2,218,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Westover Capital Advisors LLC grew its stake in GE Vernova by 2.3% in the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company’s stock valued at $345,000 after acquiring an additional 25 shares during the last quarter. SVB Wealth LLC lifted its holdings in shares of GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company’s stock valued at $1,094,000 after purchasing an additional 26 shares in the last quarter. Stonebridge Financial Group LLC grew its position in shares of GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company’s stock valued at $105,000 after purchasing an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company’s stock valued at $2,598,000 after purchasing an additional 30 shares during the last quarter. Finally, Hemington Wealth Management increased its stake in shares of GE Vernova by 20.3% during the 1st quarter. Hemington Wealth Management now owns 178 shares of the company’s stock worth $54,000 after purchasing an additional 30 shares in the last quarter.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a “buy” rating on the stock. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Finally, UBS Group started coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a “buy” rating and a $614.00 price target on the stock. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $573.75.

GE Vernova Trading Down 2.8%

Shares of NYSE:GEV opened at $581.92 on Monday. The firm has a market cap of $158.41 billion, a price-to-earnings ratio of 140.22, a PEG ratio of 4.02 and a beta of 1.88. The stock’s 50-day moving average price is $597.95 and its two-hundred day moving average price is $458.69. GE Vernova Inc. has a 12-month low of $193.38 and a 12-month high of $677.29.

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

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

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.