Sumitomo Mitsui Trust Group Inc. lifted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 631,868 shares of the company's stock after buying an additional 1,006 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of GE Vernova worth $742,356,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Auto Owners Insurance Co raised its holdings in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of GE Vernova by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock worth $16,354,691,000 after purchasing an additional 208,162 shares during the last quarter. State Street Corp boosted its holdings in shares of GE Vernova by 2.1% during the 4th quarter. State Street Corp now owns 11,469,670 shares of the company's stock worth $7,496,232,000 after purchasing an additional 231,392 shares during the last quarter. Geode Capital Management LLC grew its position in shares of GE Vernova by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock valued at $4,074,039,000 after purchasing an additional 68,894 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of GE Vernova by 12.8% in the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock valued at $3,957,024,000 after purchasing an additional 685,466 shares in the last quarter.
Insiders Place Their Bets
In related news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.21% of the company's stock.
More GE Vernova News
Here are the key news stories impacting GE Vernova this week:
- Positive Sentiment: Raised outlook and robust demand: Management recently increased its full-year revenue guidance amid booming demand for power equipment. Recent coverage also highlights stronger orders, improving margins and free cash flow, supporting expectations for continued earnings growth. Should Investors Take Profits in GE Vernova After Its Big Run?
- Positive Sentiment: AI power beneficiary: Analysts and investors increasingly view GEV as an AI-infrastructure play because hyperscalers and data centers require significant new electricity-generation and grid capacity. The company’s backlog has reportedly reached approximately $176 billion, with more than $45 billion expected to be recognized over the next year. GE Vernova: I Can't Stop Buying This AI Power Stock
- Positive Sentiment: Additional nuclear opportunity: GE Vernova Hitachi Nuclear Energy and Blue Energy agreed to advance engineering, licensing and safety work for a proposed 2.5-gigawatt gas-and-nuclear facility in Texas, adding to the company’s long-term project pipeline. GE Vernova and Blue Energy Move Forward With 2.5 GW Texas Gas-Nuclear Power Project
- Neutral Sentiment: Analyst support: Erste Group reportedly expects stronger earnings for GE Vernova, reinforcing the bullish outlook, although the available report provides limited detail on the forecast or its assumptions. Erste Group Bank Predicts Stronger Earnings for GE Vernova
- Negative Sentiment: Valuation risk: After a roughly 64% one-year gain, a discounted-cash-flow analysis suggests the shares may be about 14% above intrinsic value. The premium valuation leaves less room for execution missteps, while recent commentary flags profit-related blemishes despite strong results and raised guidance. GE Vernova Stock Could Be 14% Overvalued As Backlog Hits Record High
Wall Street Analyst Weigh In
GEV has been the subject of several recent research reports. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,328.00 price target on shares of GE Vernova in a report on Friday, April 24th. Robert W. Baird upped their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Morgan Stanley downgraded GE Vernova from an "overweight" rating to an "underweight" rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada boosted their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $1,133.15.
Get Our Latest Analysis on GE Vernova
GE Vernova Trading Up 0.0%
NYSE GEV opened at $1,063.52 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a market capitalization of $283.25 billion, a P/E ratio of 30.44, a PEG ratio of 3.79 and a beta of 1.21. The firm's 50-day moving average is $1,034.05 and its two-hundred day moving average is $959.81. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. GE Vernova's revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.86 earnings per share. On average, sell-side analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.
GE Vernova Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 5.72%.
GE Vernova Profile
(
Free Report)
GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.
The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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