Kornitzer Capital Management Inc. KS Sells 155 Shares of GE Vernova Inc. $GEV

Kornitzer Capital Management Inc. KS trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 16,893 shares of the company’s stock after selling 155 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in GE Vernova were worth $8,939,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its position in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. GAMMA Investing LLC lifted its position in GE Vernova by 8.4% during the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock valued at $2,142,000 after purchasing an additional 542 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in GE Vernova during the first quarter valued at about $328,000. Spire Wealth Management grew its holdings in GE Vernova by 23.8% during the first quarter. Spire Wealth Management now owns 3,680 shares of the company’s stock valued at $1,124,000 after purchasing an additional 707 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its position in GE Vernova by 5.1% in the first quarter. Robeco Institutional Asset Management B.V. now owns 87,135 shares of the company’s stock worth $26,601,000 after buying an additional 4,255 shares in the last quarter.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

GE Vernova stock opened at $584.68 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The firm’s 50 day moving average price is $611.31 and its 200-day moving average price is $531.04. The stock has a market cap of $158.64 billion, a P/E ratio of 95.23, a PEG ratio of 4.22 and a beta of 1.72.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is 16.29%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GEV. Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Jefferies Financial Group lifted their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a report on Friday, September 12th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Saturday. Finally, Glj Research upped their target price on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $607.59.

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.