Addison Capital Co Trims Stock Position in GE Vernova Inc. $GEV

Key Points

• Addison Capital Co reduced its stake in GE Vernova Inc. by 44.1%, selling 771 shares during the 1st quarter, while still holding 976 shares valued at approximately $298,000.
• Several hedge funds have increased their investments in GE Vernova, with Vanguard Group purchasing an additional 432,830 shares, raising its stake by 1.8%, and GAMMA Investing LLC significantly boosting its position by over 32,000%.
• GE Vernova's stock price recently rose by 6.1%, and analysts project an average target price of $573.75, with 4 analysts rating it as a Strong Buy and 18 as a Buy.

Addison Capital Co lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 44.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 976 shares of the company's stock after selling 771 shares during the quarter. Addison Capital Co's holdings in GE Vernova were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova in the first quarter valued at approximately $27,000. Orion Capital Management LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at approximately $30,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova in the first quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares during the period. Finally, Ransom Advisory Ltd acquired a new position in shares of GE Vernova in the first quarter valued at approximately $33,000.

GE Vernova Price Performance

GE Vernova stock traded down $8.16 during trading hours on Friday, hitting $625.99. The stock had a trading volume of 2,639,095 shares, compared to its average volume of 2,773,724. The stock has a market capitalization of $170.41 billion, a price-to-earnings ratio of 150.84, a PEG ratio of 4.38 and a beta of 1.87. GE Vernova Inc. has a 1-year low of $219.01 and a 1-year high of $677.29. The stock's fifty day moving average is $608.65 and its two-hundred day moving average is $467.18.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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 business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the business earned $4.65 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's dividend payout ratio is currently 24.10%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company'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 sale, the chief financial officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Mizuho lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a report on Monday, July 28th. BMO Capital Markets boosted their target price on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. HSBC boosted their target price on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a report on Friday, September 5th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $580.04.

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.