GE Vernova Inc. $GEV Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its position in GE Vernova Inc. by 0.3%, selling 3,684 shares to hold approximately 1,141,614 shares valued at $348.5 million.
• Other institutional investors, like AQR Capital Management, significantly increased their stakes in GE Vernova, with AQR boosting its holdings by 252.9% to 1.25 million shares.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, reflecting a 0.2% annual yield and a payout ratio of 24.10%.

Alliancebernstein L.P. trimmed its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,141,614 shares of the company's stock after selling 3,684 shares during the period. Alliancebernstein L.P. owned about 0.42% of GE Vernova worth $348,512,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of GE Vernova by 1.8% in the 1st 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 period. Goldman Sachs Group Inc. raised its stake 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. GAMMA Investing LLC raised its stake in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after acquiring an additional 2,135,066 shares during the period. Wellington Management Group LLP raised its stake in shares of 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 acquiring an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after acquiring an additional 622,730 shares during the period.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were 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 owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

GE Vernova Stock Performance

Shares of NYSE:GEV traded down $16.90 during trading hours on Friday, reaching $581.92. The stock had a trading volume of 3,473,078 shares, compared to its average volume of 2,574,632. GE Vernova Inc. has a 1 year low of $193.38 and a 1 year high of $677.29. The firm's 50 day moving average is $597.95 and its 200-day moving average is $458.00. The stock has a market capitalization of $158.41 billion, a price-to-earnings ratio of 140.22, a P/E/G ratio of 4.02 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company 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 firm posted $4.65 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective for the company. Finally, Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a report on Monday, July 28th. 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 MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $573.75.

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.