Douglas Lane & Associates LLC Cuts Holdings in GE Vernova Inc. $GEV

Key Points

• Douglas Lane & Associates LLC reduced its holdings in GE Vernova Inc. by 32.9%, now owning 13,920 shares valued at approximately $7.37 million.
• Equity analysts have mixed ratings for GE Vernova, with several target price adjustments; Mizuho downgraded it to "neutral," while JPMorgan Chase raised its target to $715, indicating varied market sentiments.
• GE Vernova recently declared a quarterly dividend of $0.25 per share, yielding a total annualized dividend of $1.00, with a payout ratio of 24.10%.

Douglas Lane & Associates LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 32.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,920 shares of the company's stock after selling 6,839 shares during the period. Douglas Lane & Associates LLC's holdings in GE Vernova were worth $7,366,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of GE Vernova in the 1st quarter worth $912,000. Resona Asset Management Co. Ltd. boosted its stake in shares of 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 buying an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova in the 1st quarter worth $458,000. Golden State Wealth Management LLC boosted its stake 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 buying an additional 817 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of 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 buying an additional 2,942 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GEV shares. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. JPMorgan Chase & Co. raised their target price on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. BMO Capital Markets raised their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. The Goldman Sachs Group raised their price objective on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, HSBC raised their price objective on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research report on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $580.04.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was 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 link. Corporate insiders own 0.15% of the company's stock.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $625.99 on Monday. GE Vernova Inc. has a 1 year low of $219.01 and a 1 year high of $677.29. The business has a 50 day simple moving average of $608.65 and a two-hundred day simple moving average of $469.09. The firm has a market capitalization of $170.41 billion, a PE ratio of 150.84, a price-to-earnings-growth ratio of 4.32 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating 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 firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's payout ratio is currently 24.10%.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

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.