GE Vernova Inc. $GEV Shares Sold by TIAA Trust National Association

TIAA Trust National Association lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 14.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,851 shares of the company’s stock after selling 6,979 shares during the quarter. TIAA Trust National Association’s holdings in GE Vernova were worth $21,614,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GEV. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $912,000. Pines Wealth Management LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. lifted its holdings in shares of GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after purchasing an additional 6,551 shares during the last quarter. Dupree Financial Group LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $253,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $458,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was 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 of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction 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

Shares of GE Vernova stock opened at $584.82 on Monday. The business’s fifty day moving average price is $608.29 and its two-hundred day moving average price is $542.94. The company has a market capitalization of $158.67 billion, a P/E ratio of 95.25, a PEG ratio of 4.35 and a beta of 1.69. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV) last announced 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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the firm earned ($0.35) EPS. The firm’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid 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 of this dividend is Monday, October 20th. GE Vernova’s payout ratio is currently 16.29%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent research reports. Susquehanna raised their price target on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Rothschild Redb downgraded GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

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.