GE Vernova Inc. $GEV Shares Sold by Atika Capital Management LLC

Key Points

• Atika Capital Management LLC reduced its stake in GE Vernova Inc. by 7.4%, selling 3,000 shares and holding 37,450 shares at a valuation of $11.43 million.
• GE Vernova reported $1.86 earnings per share for the last quarter, exceeding estimates of $1.63, and achieved revenue of $9.11 billion, up 11.1% year-over-year.
• The company has declared a quarterly dividend of $0.25, reflecting an annualized yield of 0.2% with a payout ratio of 24.10% as of the most recent period.

Atika Capital Management LLC decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,450 shares of the company's stock after selling 3,000 shares during the quarter. GE Vernova comprises about 1.6% of Atika Capital Management LLC's holdings, making the stock its 21st largest position. Atika Capital Management LLC's holdings in GE Vernova were worth $11,433,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GEV. Vanguard Group Inc. grew its holdings in GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. grew its holdings in GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after buying an additional 214,483 shares during the period. Northern Trust Corp grew its holdings in GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after buying an additional 343,837 shares during the period. GAMMA Investing LLC grew its holdings in GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares during the period. Finally, Wellington Management Group LLP grew its holdings in GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after buying an additional 684,794 shares during the period.

GE Vernova Stock Up 0.3%

GEV opened at $604.8590 on Thursday. The firm's 50 day moving average is $571.62 and its 200-day moving average is $437.96. GE Vernova Inc. has a 52-week low of $173.07 and a 52-week high of $677.29. The firm has a market capitalization of $164.65 billion, a P/E ratio of 145.75, a P/E/G ratio of 4.17 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $8.78 billion. During the same period last year, the business 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. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid 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 24.10%.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday, July 28th. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 price target for the company. Barclays lifted their price target on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. BMO Capital Markets boosted their target price on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

About GE Vernova

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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