Resona Asset Management Co. Ltd. Boosts Stock Holdings in GE Vernova Inc. $GEV

Resona Asset Management Co. Ltd. boosted its position in GE Vernova Inc. (NYSE:GEV) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,239 shares of the company’s stock after purchasing an additional 3,218 shares during the period. Resona Asset Management Co. Ltd.’s holdings in GE Vernova were worth $47,090,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GEV. Brighton Jones LLC lifted its stake in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in GE Vernova by 2.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 421,454 shares of the company’s stock valued at $128,662,000 after acquiring an additional 10,951 shares during the period. Callan Capital LLC raised its holdings in GE Vernova by 8.6% during the 1st quarter. Callan Capital LLC now owns 850 shares of the company’s stock valued at $259,000 after acquiring an additional 67 shares during the period. Financial Counselors Inc. raised its holdings in GE Vernova by 1.4% during the 1st quarter. Financial Counselors Inc. now owns 8,108 shares of the company’s stock valued at $2,475,000 after acquiring an additional 115 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in GE Vernova by 11.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 13,660 shares of the company’s stock valued at $4,170,000 after acquiring an additional 1,361 shares during the period.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GEV shares. Citigroup lowered their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Barclays boosted their target price on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. BMO Capital Markets boosted their target price on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Finally, HSBC boosted their target price on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Stock Up 2.2%

GEV opened at $559.87 on Thursday. The stock has a market cap of $151.90 billion, a PE ratio of 91.18, a P/E/G ratio of 4.08 and a beta of 1.68. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The business’s fifty day simple moving average is $605.04 and its 200 day simple moving average is $546.45.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during 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%. The firm’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio is currently 16.29%.

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.