GE Vernova Inc. $GEV Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. reduced its stake in GE Vernova Inc. by 18.6% during the first quarter, now holding 87,457 shares valued at approximately $26.7 million.
• GE Vernova reported a Q2 EPS of $1.86, exceeding the consensus estimate of $1.63, with a revenue increase of 11.1% year-over-year to $9.11 billion.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized yield of 0.2%, with a payout ratio of 24.10%.

Candriam S.C.A. lessened its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 18.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 87,457 shares of the company's stock after selling 19,990 shares during the quarter. Candriam S.C.A.'s holdings in GE Vernova were worth $26,699,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Navigoe LLC purchased a new stake in GE Vernova during the fourth quarter worth approximately $27,000. EQ Wealth Advisors LLC purchased a new stake in GE Vernova in the first quarter valued at approximately $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the first quarter valued at approximately $27,000. Clarity Asset Management Inc. purchased a new stake in GE Vernova in the fourth quarter valued at approximately $28,000. Finally, Orion Capital Management LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $30,000.

GE Vernova Stock Up 0.3%

Shares of NYSE GEV opened at $604.8590 on Thursday. GE Vernova Inc. has a fifty-two week low of $173.07 and a fifty-two week high of $677.29. The business has a 50 day moving average price of $571.62 and a two-hundred day moving average price of $437.96. The firm has a market cap of $164.65 billion, a PE ratio of 145.75, a price-to-earnings-growth ratio of 4.17 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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 company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the firm 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. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

GEV has been the subject of several analyst reports. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the company from $427.00 to $517.00 in a report on Thursday, May 29th. BMO Capital Markets increased their price objective on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. 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 data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova 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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