GE Vernova Inc. $GEV Shares Sold by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC reduced its stake in GE Vernova Inc. by 20.4%, now owning 198,590 shares after selling 50,924 shares during the first quarter.
• GE Vernova saw several institutional investors increasing their stakes, with Vanguard Group Inc. owning over 24 million shares worth around $7.45 billion after a recent purchase.
• The company reported earnings of $1.86 per share for the last quarter, exceeding the consensus estimate of $1.63, with a revenue increase of 11.1% compared to the previous year.

Eventide Asset Management LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 20.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,590 shares of the company's stock after selling 50,924 shares during the period. GE Vernova makes up 1.2% of Eventide Asset Management LLC's portfolio, making the stock its 21st biggest holding. Eventide Asset Management LLC owned about 0.07% of GE Vernova worth $60,611,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GEV. Vanguard Group Inc. boosted its position in GE Vernova by 1.8% during the first 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. raised its stake in GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after buying an additional 214,483 shares in the last quarter. GAMMA Investing LLC raised its stake in GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after purchasing an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after purchasing an additional 622,730 shares in the last quarter.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by insiders.

GE Vernova Trading Down 2.8%

NYSE:GEV traded down $16.90 during midday trading on Friday, hitting $581.92. 3,473,078 shares of the company were exchanged, compared to its average volume of 2,574,632. The company has a fifty day simple moving average of $597.95 and a 200 day simple moving average of $457.43. GE Vernova Inc. has a fifty-two week low of $193.38 and a fifty-two week high of $677.29. The company has a market capitalization of $158.41 billion, a PE ratio of 140.22, a price-to-earnings-growth ratio of 4.14 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 the consensus estimate of $8.78 billion. During the same period last year, the business posted $4.65 EPS. The company's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

GEV has been the topic of several research reports. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. TD Cowen boosted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Barclays lifted their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. HSBC upped their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $573.75.

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.