Ethic Inc. Raises Holdings in GE Vernova Inc. $GEV

Key Points

• Ethic Inc. increased its stake in GE Vernova Inc. by 80.1%, owning 32,594 shares worth approximately $16.94 million after acquiring 14,500 shares in the second quarter.
• GE Vernova's quarterly earnings report revealed an EPS of $1.64, missing the consensus estimate by $0.08, while revenues were up 11.8% year-over-year to $9.97 billion.
• The company is set to pay a quarterly dividend of $0.25 on November 17th, with a current dividend yield of 0.2%.

Ethic Inc. raised its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 80.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,594 shares of the company's stock after purchasing an additional 14,500 shares during the quarter. Ethic Inc.'s holdings in GE Vernova were worth $16,938,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. grew its position in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after buying an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock worth $634,984,000 after buying an additional 367,150 shares during the period. Wellington Management Group LLP raised its holdings in GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after acquiring an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

GE Vernova Stock Performance

GE Vernova stock opened at $594.96 on Wednesday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The company has a market cap of $161.96 billion, a P/E ratio of 143.48, a price-to-earnings-growth ratio of 4.30 and a beta of 1.72. The business has a fifty day moving average of $613.83 and a two-hundred day moving average of $524.82.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.97 billion during the quarter, compared to analysts' expectations of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The firm's revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. HSBC lifted their price target on GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a report on Friday, September 5th. Morgan Stanley increased their price objective on GE Vernova from $675.00 to $690.00 and gave the company an "overweight" rating in a report on Thursday, October 16th. Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada set a $605.00 target price on GE Vernova and gave the stock a "sector perform" rating in a research report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $601.44.

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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