1832 Asset Management L.P. Has $55.87 Million Stock Position in GE Vernova Inc. $GEV

Key Points

• 1832 Asset Management L.P. significantly cut its holdings in GE Vernova Inc. by 75.4%, selling 560,550 shares and ending the period with around 183,000 shares.
• GE Vernova reported a quarterly EPS of $1.86, surpassing analysts' expectations, with revenue increasing by 11.1% year-over-year to $9.11 billion.
• The company declared a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 and a yield of 0.2%.

1832 Asset Management L.P. cut its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 75.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,000 shares of the company's stock after selling 560,550 shares during the quarter. 1832 Asset Management L.P. owned 0.07% of GE Vernova worth $55,866,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of GE Vernova by 11.5% during the 1st quarter. Ameriprise Financial Inc. now owns 544,081 shares of the company's stock worth $166,066,000 after purchasing an additional 56,158 shares in the last quarter. Norinchukin Bank The boosted its stake in GE Vernova by 15.2% during the first quarter. Norinchukin Bank The now owns 14,184 shares of the company's stock worth $4,330,000 after buying an additional 1,874 shares in the last quarter. CW Advisors LLC raised its stake in shares of GE Vernova by 215.0% in the 1st quarter. CW Advisors LLC now owns 8,214 shares of the company's stock valued at $2,602,000 after buying an additional 5,606 shares in the last quarter. Estate Counselors LLC acquired a new stake in shares of GE Vernova during the 1st quarter valued at about $3,862,000. Finally, Kaufman Rossin Wealth LLC acquired a new stake in shares of GE Vernova during the 1st quarter valued at about $436,000.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GEV shares. TD Cowen raised their price target on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Barclays boosted their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Glj Research began coverage on GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Trading Up 4.2%

Shares of GE Vernova stock traded up $25.36 during trading on Tuesday, hitting $627.67. 1,634,633 shares of the stock were exchanged, compared to its average volume of 3,536,162. GE Vernova Inc. has a 1-year low of $180.49 and a 1-year high of $677.29. The stock has a market capitalization of $170.87 billion, a price-to-earnings ratio of 151.25, a price-to-earnings-growth ratio of 4.20 and a beta of 1.90. The company has a fifty day moving average price of $578.85 and a 200-day moving average price of $443.92.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors 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%.

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.