Baird Financial Group Inc. Acquires 128,030 Shares of GE Vernova Inc. $GEV

Key Points

• Baird Financial Group Inc. increased its stake in GE Vernova Inc. by 8.2%, now holding 1,684,673 shares valued at approximately $514 million.
• GE Vernova's CFO, Kenneth Scott Parks, sold 3,300 shares for over $2 million, marking a 30.30% decrease in his holdings.
• The company reported earnings per share of $1.86 for the last quarter, surpassing analyst expectations, while achieving revenue of $9.11 billion.

Baird Financial Group Inc. boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,684,673 shares of the company's stock after purchasing an additional 128,030 shares during the quarter. GE Vernova makes up 1.0% of Baird Financial Group Inc.'s portfolio, making the stock its 21st biggest holding. Baird Financial Group Inc. owned approximately 0.62% of GE Vernova worth $514,297,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new stake in GE Vernova during the first quarter valued at about $912,000. Resona Asset Management Co. Ltd. lifted its holdings in 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 buying an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $458,000. Golden State Wealth Management LLC lifted its holdings in shares of GE Vernova by 201.7% in the 1st 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 raised its stake in GE Vernova by 8.5% during the 1st quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock valued at $11,485,000 after acquiring an additional 2,942 shares in the last quarter.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GEV shares. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a research report on Monday, July 28th. Wells Fargo & Company upped their price target on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Four equities research 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Stock Down 5.4%

NYSE GEV traded down $33.24 on Tuesday, reaching $579.73. The company had a trading volume of 4,610,775 shares, compared to its average volume of 3,522,320. The stock's 50 day moving average is $592.03 and its 200-day moving average is $452.65. The stock has a market cap of $157.81 billion, a price-to-earnings ratio of 139.69, a PEG ratio of 4.24 and a beta of 1.88. GE Vernova Inc. has a 52 week low of $187.55 and a 52 week high of $677.29.

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

GE Vernova Dividend Announcement

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