Wellington Management Group LLP Has $619.70 Million Stake in GE Vernova Inc. $GEV

Wellington Management Group LLP raised its stake in GE Vernova Inc. (NYSE:GEV) by 50.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,029,948 shares of the company’s stock after buying an additional 684,794 shares during the quarter. Wellington Management Group LLP’s holdings in GE Vernova were worth $619,703,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GEV. Navigoe LLC purchased a new stake in GE Vernova in the 4th quarter valued at $27,000. EQ Wealth Advisors LLC bought a new position in GE Vernova during the 1st quarter valued at $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova during the 1st quarter valued at $27,000. Clarity Asset Management Inc. bought a new position in GE Vernova during the 4th quarter valued at $28,000. Finally, Orion Capital Management LLC bought a new position in GE Vernova during the 4th quarter valued at $30,000.

GE Vernova Stock Up 0.4%

GEV stock opened at $624.51 on Tuesday. The firm has a market capitalization of $170.00 billion, a PE ratio of 150.48, a PEG ratio of 4.30 and a beta of 1.90. GE Vernova Inc. has a twelve month low of $173.07 and a twelve month high of $677.29. The stock has a 50-day simple moving average of $566.43 and a two-hundred day simple moving average of $435.65.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 24.10%.

Analysts Set New Price Targets

Several brokerages have weighed in on GEV. Robert W. Baird raised their price objective on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. BMO Capital Markets raised their price objective on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their price objective on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Finally, Wolfe Research cut GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Ten equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $560.21.

About GE Vernova

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.