GE Vernova Inc. $GEV Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE reduced its stake in GE Vernova by 31.7%, now holding approximately $78 million worth of shares after selling 118,566 shares in the first quarter.
• Several hedge funds made significant changes to their positions, with GAMMA Investing LLC increasing its stake by a staggering 32,984.2% during the same period.
• Analysts have mixed views on GE Vernova, with four rating it as a Strong Buy while others have issued price target increases, reflecting ongoing investor interest and potential growth.

Axiom Investors LLC DE lessened its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 255,851 shares of the company's stock after selling 118,566 shares during the quarter. Axiom Investors LLC DE owned about 0.09% of GE Vernova worth $78,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the last quarter. TD Asset Management Inc increased its stake in GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after acquiring an additional 799,388 shares during the last quarter. Nuveen LLC acquired a new stake in GE Vernova during the first quarter worth $223,556,000. Jacobs Levy Equity Management Inc. increased its stake in GE Vernova by 148.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,155,183 shares of the company's stock worth $379,974,000 after acquiring an additional 690,513 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. TD Cowen raised their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Robert W. Baird boosted their price objective on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, HSBC boosted their price objective on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $573.75.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's 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 completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

GE Vernova Price Performance

GEV opened at $581.92 on Monday. GE Vernova Inc. has a 12 month low of $193.38 and a 12 month high of $677.29. The stock has a market capitalization of $158.41 billion, a price-to-earnings ratio of 140.22, a PEG ratio of 4.02 and a beta of 1.88. The business has a fifty day moving average price of $597.95 and a 200 day moving average price of $458.69.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the firm posted $4.65 EPS. GE Vernova'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. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. 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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