First Manhattan CO. LLC. Has $69.69 Million Stock Holdings in GE Vernova Inc. $GEV

Key Points

• First Manhattan CO. LLC has increased its stake in GE Vernova Inc. by 573.9% during the first quarter, now holding a position valued at approximately $69.69 million.
• Several institutional investors, including Brighton Jones LLC and AXA S.A., have also made significant changes to their holdings in GE Vernova, indicating increased interest in the stock.
• Analysts have set varying price targets for GE Vernova, with JPMorgan Chase & Co. raising its target to $715.00, while Mizuho downgraded the stock to "neutral" with a target of $670.00.

First Manhattan CO. LLC. grew its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 573.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,283 shares of the company's stock after buying an additional 194,410 shares during the quarter. First Manhattan CO. LLC. owned approximately 0.08% of GE Vernova worth $69,690,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. American Assets Inc. bought a new stake in shares of GE Vernova during the fourth quarter valued at approximately $658,000. AlTi Global Inc. grew its stake in shares of GE Vernova by 55.6% during the fourth quarter. AlTi Global Inc. now owns 1,477 shares of the company's stock valued at $490,000 after purchasing an additional 528 shares during the last quarter. AXA S.A. grew its stake in shares of GE Vernova by 13.0% during the fourth quarter. AXA S.A. now owns 28,052 shares of the company's stock valued at $9,227,000 after purchasing an additional 3,229 shares during the last quarter. Finally, Aptus Capital Advisors LLC grew its stake in shares of GE Vernova by 15.2% during the fourth quarter. Aptus Capital Advisors LLC now owns 3,221 shares of the company's stock valued at $1,060,000 after purchasing an additional 425 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GEV. Barclays increased their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. The Goldman Sachs Group increased their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Robert W. Baird increased their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Price Performance

GE Vernova stock traded down $2.88 during midday trading on Wednesday, hitting $576.80. The company's stock had a trading volume of 3,656,074 shares, compared to its average volume of 2,284,373. GE Vernova Inc. has a 1-year low of $192.12 and a 1-year high of $677.29. The company has a 50-day moving average price of $593.39 and a two-hundred day moving average price of $453.54. The company has a market cap of $157.02 billion, a price-to-earnings ratio of 126.39, a PEG ratio of 4.24 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping 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 business 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 company earned $4.65 EPS. The business's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

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.