GE Vernova Inc. $GEV Holdings Trimmed by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,585 shares of the company’s stock after selling 125 shares during the period. GE Vernova accounts for 1.9% of Merrion Investment Management Co LLC’s investment portfolio, making the stock its 12th biggest position. Merrion Investment Management Co LLC’s holdings in GE Vernova were worth $2,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC lifted its stake in GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Amundi grew its stake in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after acquiring an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares during the period. TD Asset Management Inc lifted its position in shares of GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of GE Vernova during the first quarter worth approximately $223,556,000.

GE Vernova Trading Up 4.6%

GEV stock opened at $575.61 on Friday. The firm has a market cap of $156.18 billion, a PE ratio of 93.75, a PEG ratio of 4.28 and a beta of 1.68. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The company has a fifty day simple moving average of $602.58 and a 200 day simple moving average of $549.85.

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 the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.35) earnings per share. 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 business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s payout ratio is 16.29%.

Insider Transactions at GE Vernova

In other GE Vernova 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on GEV. Susquehanna upped their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Jefferies Financial Group restated a “hold” rating and set a $654.00 price target on shares of GE Vernova in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. BMO Capital Markets lifted their price objective on GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target 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.