Gamco Investors INC. ET AL Has $4.20 Million Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Gamco Investors INC. ET AL reduced its holdings in GE Vernova Inc. by 30.3%, now holding shares worth $4.20 million after selling nearly 6,000 shares in the first quarter.
• Analysts have varying opinions on GE Vernova, with Barclays raising the price target from $580 to $706 and Wolfe Research downgrading the stock from "outperform" to "peer perform."
• The company reported quarterly earnings of $1.86 EPS, exceeding estimates, and announced a quarterly dividend of $0.25, reflecting a 0.2% yield.

Gamco Investors INC. ET AL decreased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,743 shares of the company's stock after selling 5,980 shares during the period. Gamco Investors INC. ET AL's holdings in GE Vernova were worth $4,195,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GEV. Navigoe LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $28,000. Finally, Orion Capital Management LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $30,000.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GEV. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. BMO Capital Markets lifted their target price on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Bank of America lifted their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a research note on Monday, July 28th. Finally, Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and lifted their target price for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Performance

Shares of GEV stock traded down $19.09 during mid-day trading on Monday, hitting $614.60. 2,264,673 shares of the stock traded hands, compared to its average volume of 2,392,169. GE Vernova Inc. has a twelve month low of $185.35 and a twelve month high of $677.29. The firm has a market cap of $167.31 billion, a price-to-earnings ratio of 148.10, a price-to-earnings-growth ratio of 4.24 and a beta of 1.88. The company's 50-day simple moving average is $589.73 and its 200-day simple moving average is $450.93.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $8.78 billion. During the same period last year, the firm earned $4.65 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current 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 given a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is 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.