Evelyn Partners Investment Management LLP Increases Stock Position in GE Vernova Inc. $GEV

Evelyn Partners Investment Management LLP grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 251.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,931 shares of the company’s stock after buying an additional 1,382 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in GE Vernova were worth $1,022,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in GE Vernova by 1.1% during the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after buying an additional 271,958 shares during the period. Geode Capital Management LLC grew its position in shares of GE Vernova by 2.2% during the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after acquiring an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in GE Vernova by 21.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after purchasing an additional 684,794 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GEV shares. Barclays lifted their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. TD Cowen reduced their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a research note on Monday, September 15th. Finally, Rothschild Redb cut GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $607.81.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s 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 completion of the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

GE Vernova Trading Down 0.4%

Shares of GE Vernova stock opened at $555.98 on Friday. The company has a 50-day moving average of $595.52 and a two-hundred day moving average of $562.34. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The stock has a market cap of $150.85 billion, a PE ratio of 90.55, a price-to-earnings-growth ratio of 4.15 and a beta of 1.68.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) EPS. The business’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced 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 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.