GE Vernova Inc. $GEV Shares Acquired by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. increased its stake in GE Vernova Inc. by 85.0%, acquiring an additional 89,225 shares to own a total of 194,225 shares valued at approximately $59.3 million.
• Several analysts have raised their price targets for GE Vernova, with Robert W. Baird and Barclays both setting their new target at $706, while the average target price across analysts is $560.21.
• GE Vernova recently declared a quarterly dividend of $0.25 per share, which represents an annual yield of 0.2%, and reflects a dividend payout ratio of 24.10%.

Alyeska Investment Group L.P. grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 85.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 194,225 shares of the company's stock after purchasing an additional 89,225 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.07% of GE Vernova worth $59,293,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of GE Vernova during the 1st quarter worth $912,000. Resona Asset Management Co. Ltd. lifted its stake in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after purchasing an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova during the 1st quarter worth $458,000. Golden State Wealth Management LLC increased its position in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in GE Vernova by 8.5% during the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after purchasing an additional 2,942 shares during the last quarter.

Insider Buying and Selling 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 directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company's stock.

GE Vernova Stock Performance

Shares of GEV stock traded down $16.90 on Friday, hitting $581.92. The stock had a trading volume of 3,473,078 shares, compared to its average volume of 2,574,632. The firm 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. The stock's 50 day moving average is $597.95 and its 200-day moving average is $458.00. GE Vernova Inc. has a 52-week low of $193.38 and a 52-week high of $677.29.

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

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GEV. TD Cowen upped their price target on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. BMO Capital Markets upped their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, Barclays upped their price target on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.