Hardman Johnston Global Advisors LLC Makes New Investment in GE Vernova Inc. $GEV

Hardman Johnston Global Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 511 shares of the company’s stock, valued at approximately $270,000.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of GE Vernova in the first quarter valued at approximately $912,000. Pines Wealth Management LLC acquired a new stake in GE Vernova during the 2nd quarter valued at $408,000. Resona Asset Management Co. Ltd. increased its holdings in GE Vernova by 8.2% during the 1st 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 in the last quarter. Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova during the first quarter worth $458,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after purchasing an additional 817 shares during the last quarter.

GE Vernova Price Performance

Shares of NYSE GEV opened at $606.80 on Friday. The company’s 50 day simple moving average is $624.20 and its 200 day simple moving average is $496.99. The firm has a market capitalization of $165.18 billion, a P/E ratio of 146.22, a P/E/G ratio of 4.42 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $250.89 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating 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 company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s payout ratio is presently 24.10%.

Analyst Ratings Changes

Several research analysts recently issued reports on GEV shares. Morgan Stanley upped their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Melius Research set a $740.00 target price on shares of GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Wolfe Research lowered shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. UBS Group began coverage on GE Vernova in a research report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Finally, Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the company a “sector perform” rating in a research report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $598.50.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by insiders.

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.