Vanguard Group Inc. Purchases 271,958 Shares of GE Vernova Inc. $GEV

Vanguard Group Inc. raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,664,571 shares of the company’s stock after purchasing an additional 271,958 shares during the period. Vanguard Group Inc. owned approximately 9.06% of GE Vernova worth $13,051,258,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova during the 1st quarter valued at $912,000. Pines Wealth Management LLC purchased a new position in GE Vernova during the second quarter valued at $408,000. Resona Asset Management Co. Ltd. grew its holdings in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC purchased a new stake in GE Vernova in the second quarter worth about $253,000. Finally, Lockheed Martin Investment Management Co. bought a new position in shares of GE Vernova in the first quarter worth about $458,000.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value 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. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $576.48 on Tuesday. The firm’s fifty day moving average is $600.40 and its two-hundred day moving average is $559.92. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The company has a market cap of $156.41 billion, a P/E ratio of 93.89, a P/E/G ratio of 4.30 and a beta of 1.69.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the firm posted ($0.35) earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, 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 was Monday, October 20th. GE Vernova’s dividend payout ratio is currently 16.29%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GEV shares. HSBC increased their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Barclays increased their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. BMO Capital Markets raised their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Melius Research set a $740.00 target price on shares of GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. increased their price target on GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Four equities research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

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.