Delta Investment Management LLC Lowers Holdings in GE Vernova Inc. $GEV

Key Points

• Delta Investment Management LLC reduced its stake in GE Vernova Inc. by 58.9%, owning 1,434 shares valued at $438,000 after selling 2,059 shares in Q1.
• GE Vernova reported $9.11 billion in revenue for the last quarter, exceeding analyst estimates of $8.78 billion, alongside earnings per share of $1.86.
• The company announced a quarterly dividend of $0.25, equating to a 0.2% dividend yield, with a payout ratio of 24.10%.

Delta Investment Management LLC cut its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 58.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,434 shares of the company's stock after selling 2,059 shares during the period. Delta Investment Management LLC's holdings in GE Vernova were worth $438,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GEV. Caitong International Asset Management Co. Ltd bought a new stake in GE Vernova in the 1st quarter worth approximately $912,000. Resona Asset Management Co. Ltd. increased its stake in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after acquiring an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in GE Vernova in the 1st quarter worth approximately $458,000. Golden State Wealth Management LLC increased its stake in 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 acquiring an additional 817 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in GE Vernova by 8.5% in the 1st quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after acquiring an additional 2,942 shares during the last quarter.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on 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 completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

GE Vernova Stock Down 3.0%

GEV traded down $19.09 during trading hours on Friday, reaching $614.60. 2,264,673 shares of the company's stock traded hands, compared to its average volume of 2,432,720. The firm has a 50-day moving average price of $589.73 and a 200 day moving average price of $450.37. GE Vernova Inc. has a 52-week low of $185.35 and a 52-week high of $677.29. The firm has a market capitalization of $167.31 billion, a PE ratio of 148.10, a PEG ratio of 4.24 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 EPS. GE Vernova's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. UBS Group initiated coverage on GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective on the stock. Bank of America lifted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Finally, Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Four 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

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.