1,525 Shares in GE Vernova Inc. $GEV Bought by Phoenix Financial Ltd.

Key Points

• Phoenix Financial Ltd. acquired 1,525 shares of GE Vernova Inc. valued at approximately $806,000 during the second quarter.
• GE Vernova's quarterly earnings showed a reported EPS of $1.64, missing the consensus estimate by $0.08, while revenue was up 11.8% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.25 per share, reflecting a 0.2% yield, with payment scheduled for November 17th.

Phoenix Financial Ltd. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,525 shares of the company's stock, valued at approximately $806,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after acquiring an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased its position in GE Vernova by 7.4% during the first 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of GE Vernova by 21.4% during the first 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 period. Wellington Management Group LLP boosted its stake in shares of GE Vernova by 50.9% during the first 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 period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after purchasing an additional 622,730 shares during the period.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, 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 SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

GE Vernova Stock Down 1.6%

GEV opened at $575.73 on Thursday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The company has a market cap of $156.72 billion, a P/E ratio of 138.73, a price-to-earnings-growth ratio of 4.24 and a beta of 1.72. The firm's 50-day moving average price is $612.65 and its 200-day moving average price is $525.17.

GE Vernova (NYSE:GEV - Get Free Report) 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 net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the company earned ($0.35) EPS. The business's revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is 24.10%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent analyst reports. Glj Research boosted their target price on shares of GE Vernova from $702.00 to $758.00 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a research note on Monday, September 15th. 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 research note on Friday, September 5th. Mizuho boosted their target price on shares of GE Vernova from $670.00 to $677.00 and gave the company a "neutral" rating in a research note on Wednesday, October 15th. Finally, Jefferies Financial Group boosted their target price on shares of GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research note on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, eighteen 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, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $601.44.

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.

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