CWC Advisors LLC. Cuts Position in GE Vernova Inc. $GEV

Key Points

• CWC Advisors LLC reduced its stake in GE Vernova Inc. by 74.4%, selling 2,703 shares and now holding 930 shares valued at approximately $492,000.
• Several hedge funds significantly increased their positions in GE Vernova, with GAMMA Investing LLC growing its stake by a tremendous 32,984.2% in the first quarter.
• GE Vernova reported a revenue of $9.11 billion for the last quarter, surpassing analysts' expectations and posting earnings per share of $1.86, which exceeded the forecast of $1.63.

CWC Advisors LLC. trimmed its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 74.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 930 shares of the company's stock after selling 2,703 shares during the period. CWC Advisors LLC.'s holdings in GE Vernova were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. GAMMA Investing LLC increased its position in GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares in the last quarter. AQR Capital Management LLC increased its position in GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after buying an additional 892,549 shares in the last quarter. Amundi increased its position in GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after buying an additional 868,927 shares in the last quarter. TD Asset Management Inc increased its position in GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after buying an additional 799,388 shares in the last quarter. Finally, Nuveen LLC acquired a new position in GE Vernova during the 1st quarter valued at about $223,556,000.

Analysts Set New Price Targets

GEV has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Citigroup lifted their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Susquehanna lifted their price target on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Finally, Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $592.35.

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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

GE Vernova Stock Performance

GEV stock traded up $13.61 during midday trading on Friday, reaching $624.61. 4,104,917 shares of the company's stock traded hands, compared to its average volume of 2,689,348. The company has a 50-day moving average price of $617.11 and a two-hundred day moving average price of $478.45. GE Vernova Inc. has a 52 week low of $242.25 and a 52 week high of $677.29. The firm has a market capitalization of $170.03 billion, a PE ratio of 150.51, a price-to-earnings-growth ratio of 4.55 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its 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. 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 quarter in the previous year, the firm posted $4.65 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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. The ex-dividend date of this dividend 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 presently 24.10%.

About GE Vernova

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.