GE Vernova Inc. $GEV Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in GE Vernova Inc. by 315.2% during the 2nd quarter, now owning 54,796 shares valued at approximately $27.7 million.
• Recent analyst ratings for GE Vernova show a mix of upgrades and downgrades, with Mizuho raising their target price from $670 to $677 while Guggenheim changed their rating from "buy" to "neutral".
• GE Vernova announced a quarterly dividend of $0.25 per share, which translates to an annualized yield of 0.2%, with the payment scheduled for November 17th.

Allspring Global Investments Holdings LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 315.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,796 shares of the company's stock after purchasing an additional 41,600 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in GE Vernova were worth $27,727,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GE Vernova during the first quarter worth $912,000. Pines Wealth Management LLC acquired a new stake in shares of GE Vernova during the second quarter worth $408,000. Resona Asset Management Co. Ltd. boosted its holdings 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 worth $26,229,000 after purchasing an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of GE Vernova during the first quarter worth $458,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares during the last quarter.

Insider Activity

In other 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 transaction of $2,046,000.00. Following the sale, the chief financial officer directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Mizuho lifted their target price on GE Vernova from $670.00 to $677.00 and gave the company a "neutral" rating in a report on Wednesday. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Robert W. Baird lifted their target price on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. HSBC lifted their target price on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a report on Friday, September 5th. Finally, UBS Group assumed coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $592.07.

GE Vernova Price Performance

NYSE:GEV opened at $617.78 on Thursday. The business's 50-day moving average is $618.29 and its two-hundred day moving average is $515.27. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The firm has a market capitalization of $168.17 billion, a PE ratio of 148.86, a price-to-earnings-growth ratio of 4.67 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 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 analyst estimates of $8.78 billion. During the same period last year, the company posted $4.65 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova's payout ratio is presently 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.

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