Gateway Investment Advisers LLC Purchases 3,684 Shares of GE Vernova Inc. $GEV

Gateway Investment Advisers LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,394 shares of the company's stock after purchasing an additional 3,684 shares during the period. Gateway Investment Advisers LLC's holdings in GE Vernova were worth $26,666,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova during the first quarter valued at approximately $912,000. Resona Asset Management Co. Ltd. increased its position in shares of GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. bought a new stake in GE Vernova in the first quarter valued at $458,000. Golden State Wealth Management LLC grew its position in GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after acquiring an additional 817 shares during the period. Finally, Public Sector Pension Investment Board grew its position in GE Vernova by 8.5% in the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock valued at $11,485,000 after acquiring an additional 2,942 shares during the period.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

GE Vernova Stock Down 1.7%

Shares of GEV opened at $618.28 on Wednesday. GE Vernova Inc. has a 12-month low of $233.51 and a 12-month high of $677.29. The firm has a market capitalization of $168.31 billion, a PE ratio of 148.98, a price-to-earnings-growth ratio of 4.35 and a beta of 1.87. The stock's fifty day simple moving average is $612.36 and its 200-day simple moving average is $472.16.

GE Vernova (NYSE:GEV - Get Free Report) last released its 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 return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on GEV. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Melius Research set a $740.00 price target on GE Vernova and gave the company a "buy" rating in a research report on Monday. Glj Research began coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Finally, HSBC upped their price target 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 research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $592.35.

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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