Dorsey Wright & Associates Sells 7,791 Shares of GE Vernova Inc. $GEV

Dorsey Wright & Associates reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 33.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,642 shares of the company’s stock after selling 7,791 shares during the quarter. GE Vernova makes up approximately 2.0% of Dorsey Wright & Associates’ portfolio, making the stock its 9th largest position. Dorsey Wright & Associates’ holdings in GE Vernova were worth $8,277,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after buying an additional 892,549 shares during the period. Amundi raised its holdings in shares of GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after acquiring an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares in the last quarter. TD Asset Management Inc boosted its position in GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after purchasing an additional 799,388 shares during the last quarter. Finally, Nuveen LLC purchased a new position in GE Vernova in the first quarter valued at about $223,556,000.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated 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 directly owned 7,590 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

GEV has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $654.00 price objective on shares of GE Vernova in a research report on Monday, October 27th. Cowen reiterated a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, TD Cowen cut their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Stock Down 3.9%

Shares of GEV stock opened at $554.50 on Wednesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company has a market cap of $150.45 billion, a PE ratio of 90.31, a price-to-earnings-growth ratio of 4.29 and a beta of 1.68. The business’s 50 day moving average is $599.38 and its two-hundred day moving average is $561.03.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the company posted ($0.35) earnings per share. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s dividend payout ratio is 16.29%.

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.