Corebridge Financial Inc. Sells 2,529 Shares of GE Vernova Inc. $GEV

Key Points

• Corebridge Financial Inc. has reduced its stake in GE Vernova Inc. by 3.7%, selling 2,529 shares and holding 65,414 shares valued at approximately $19.97 million.
• Analysts have mixed ratings for GE Vernova, with a current consensus of "Moderate Buy" and target prices ranging from $560.21 to as high as $715.00.
• GE Vernova reported a quarterly earnings per share (EPS) of $1.86, surpassing estimates, and announced a quarterly dividend of $0.25, reflecting a 0.2% yield.

Corebridge Financial Inc. cut its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,414 shares of the company's stock after selling 2,529 shares during the period. Corebridge Financial Inc.'s holdings in GE Vernova were worth $19,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Navigoe LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $27,000. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. Clarity Asset Management Inc. acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $28,000. Finally, Orion Capital Management LLC acquired a new stake in shares of GE Vernova in the 4th quarter valued at about $30,000.

Analysts Set New Price Targets

Several analysts have recently commented on GEV shares. UBS Group started coverage on GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Robert W. Baird raised their target price on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Performance

GEV stock opened at $601.49 on Tuesday. The company has a market capitalization of $163.74 billion, a P/E ratio of 144.94, a price-to-earnings-growth ratio of 4.20 and a beta of 1.90. GE Vernova Inc. has a 52-week low of $179.19 and a 52-week high of $677.29. The business has a 50-day simple moving average of $578.85 and a two-hundred day simple moving average of $443.92.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 13.23% and a net margin of 3.16%.The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm 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. 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 presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.