Allstate Corp Has $3 Million Stock Position in GE Vernova Inc. $GEV

Key Points

• Allstate Corp increased its stake in GE Vernova Inc. by 20.1%, owning 9,814 shares worth approximately $2.996 million after acquiring additional shares in Q1.
• GE Vernova reported $1.86 EPS for the quarter, surpassing estimates, with revenue of $9.11 billion, an 11.1% increase from the previous year.
• The company announced a quarterly dividend of $0.25 per share, reflecting a 0.2% yield and a payout ratio of 24.10%.

Allstate Corp boosted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 20.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,814 shares of the company's stock after buying an additional 1,643 shares during the quarter. Allstate Corp's holdings in GE Vernova were worth $2,996,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of GE Vernova by 32,984.2% during the first 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. TD Asset Management Inc increased its position in shares of GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Nuveen LLC bought a new position in GE Vernova during the 1st quarter valued at about $223,556,000. Jacobs Levy Equity Management Inc. boosted its position in GE Vernova by 148.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock valued at $379,974,000 after buying an additional 690,513 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after buying an additional 684,794 shares in the last quarter.

GE Vernova Trading Up 4.2%

Shares of GEV stock traded up $25.36 on Tuesday, hitting $627.67. 2,359,131 shares of the stock were exchanged, compared to its average volume of 3,536,766. The firm has a market capitalization of $170.87 billion, a P/E ratio of 151.25, a price-to-earnings-growth ratio of 4.20 and a beta of 1.90. GE Vernova Inc. has a fifty-two week low of $180.49 and a fifty-two week high of $677.29. The business has a 50-day moving average of $578.85 and a 200 day moving average of $443.92.

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

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors 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 yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 24.10%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GEV. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

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.