Resona Asset Management Co. Ltd. Sells 4,287 Shares of GE Vernova Inc. $GEV

Resona Asset Management Co. Ltd. reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,724 shares of the company’s stock after selling 4,287 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in GE Vernova were worth $91,264,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Onyx Bridge Wealth Group LLC increased its holdings in shares of GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock worth $635,000 after purchasing an additional 9 shares during the period. Red Door Wealth Management LLC lifted its stake in shares of GE Vernova by 0.6% in the first quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock valued at $1,548,000 after buying an additional 10 shares during the period. Advance Capital Management Inc. lifted its stake in shares of GE Vernova by 2.2% in the first quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock valued at $402,000 after buying an additional 10 shares during the period. Alpha Financial Partners LLC grew its position in GE Vernova by 2.0% during the first quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after buying an additional 10 shares in the last quarter. Finally, Sandy Cove Advisors LLC grew its position in GE Vernova by 2.6% during the second quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock worth $457,000 after buying an additional 10 shares in the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $1,063.52 on Friday. The stock has a market cap of $283.25 billion, a P/E ratio of 30.44, a PEG ratio of 3.79 and a beta of 1.21. The company’s 50-day simple moving average is $1,034.05 and its 200 day simple moving average is $957.76. GE Vernova Inc. has a twelve month low of $530.16 and a twelve month high of $1,195.94. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the company earned $1.86 EPS. As a group, research analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 16th. GE Vernova’s dividend payout ratio is currently 5.72%.

Key Stories Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: Raised outlook and robust demand: Management recently increased its full-year revenue guidance amid booming demand for power equipment. Recent coverage also highlights stronger orders, improving margins and free cash flow, supporting expectations for continued earnings growth. Should Investors Take Profits in GE Vernova After Its Big Run?
• Positive Sentiment: AI power beneficiary: Analysts and investors increasingly view GEV as an AI-infrastructure play because hyperscalers and data centers require significant new electricity-generation and grid capacity. The company’s backlog has reportedly reached approximately $176 billion, with more than $45 billion expected to be recognized over the next year. GE Vernova: I Can’t Stop Buying This AI Power Stock
• Positive Sentiment: Additional nuclear opportunity: GE Vernova Hitachi Nuclear Energy and Blue Energy agreed to advance engineering, licensing and safety work for a proposed 2.5-gigawatt gas-and-nuclear facility in Texas, adding to the company’s long-term project pipeline. GE Vernova and Blue Energy Move Forward With 2.5 GW Texas Gas-Nuclear Power Project
• Neutral Sentiment: Analyst support: Erste Group reportedly expects stronger earnings for GE Vernova, reinforcing the bullish outlook, although the available report provides limited detail on the forecast or its assumptions. Erste Group Bank Predicts Stronger Earnings for GE Vernova
• Negative Sentiment: Valuation risk: After a roughly 64% one-year gain, a discounted-cash-flow analysis suggests the shares may be about 14% above intrinsic value. The premium valuation leaves less room for execution missteps, while recent commentary flags profit-related blemishes despite strong results and raised guidance. GE Vernova Stock Could Be 14% Overvalued As Backlog Hits Record High

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GEV shares. William Blair restated an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Sanford C. Bernstein raised their price objective on GE Vernova from $1,206.00 to $1,298.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Jefferies Financial Group reissued a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. Oppenheimer boosted their price objective on GE Vernova from $1,303.00 to $1,338.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, Barclays upped their target price on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,133.15.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.