GE Vernova Inc. $GEV Stake Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 30,610 shares of the company’s stock after selling 1,730 shares during the quarter. State of Alaska Department of Revenue’s holdings in GE Vernova were worth $16,197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GEV. Vanguard Group Inc. lifted its position in shares of GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after acquiring an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after acquiring an additional 214,483 shares in the last quarter. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GE Vernova by 21.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after purchasing an additional 684,794 shares in the last quarter.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

NYSE GEV opened at $605.21 on Friday. GE Vernova Inc. has a one year low of $248.50 and a one year high of $677.29. The stock’s 50-day moving average is $622.99 and its 200-day moving average is $488.82. The firm has a market cap of $164.75 billion, a P/E ratio of 145.83, a P/E/G ratio of 4.43 and a beta of 1.87.

GE Vernova (NYSE:GEV) last posted 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. The company 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%.GE Vernova’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 currently 24.10%.

Wall Street Analyst Weigh In

Several research firms have commented on GEV. Citigroup increased their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Morgan Stanley upped their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. BMO Capital Markets upped their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $592.35.

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.