Baxter Bros Inc. Cuts Position in GE Vernova Inc. $GEV

Baxter Bros Inc. reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,390 shares of the company's stock after selling 457 shares during the quarter. Baxter Bros Inc.'s holdings in GE Vernova were worth $5,498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova during the 1st quarter valued at about $912,000. Pines Wealth Management LLC purchased a new position in GE Vernova during the 2nd quarter valued at about $408,000. Resona Asset Management Co. Ltd. increased 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 valued at $26,229,000 after acquiring an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new position in GE Vernova during the 1st quarter valued at about $458,000. Finally, Golden State Wealth Management LLC increased its holdings in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after acquiring an additional 817 shares in the last quarter.

GE Vernova Stock Performance

GEV opened at $625.47 on Thursday. The company's 50 day simple moving average is $621.18 and its 200 day simple moving average is $504.60. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock has a market capitalization of $170.27 billion, a PE ratio of 150.72, a P/E/G ratio of 4.41 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period last year, the company earned $4.65 earnings per share. The company's quarterly 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 expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of GE Vernova in a report on Wednesday. TD Cowen lifted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Barclays lifted their price target on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Jefferies Financial Group lifted their price target on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $598.50.

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.

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