GE Vernova Inc. $GEV Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS reduced its holdings in GE Vernova by 16.2%, selling 20,300 shares in the second quarter, leaving them with 104,710 shares valued at approximately $55.4 million.
• Several hedge funds increased their positions in GE Vernova, with notable investments including SeaTown Holdings and Meitav Investment House, indicating growing institutional interest.
• Analysts have set a consensus price target of $598.50 for GE Vernova, with a mix of ratings, including four "Strong Buy" and nineteen "Buy" ratings.

KLP Kapitalforvaltning AS reduced its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 16.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,710 shares of the company's stock after selling 20,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in GE Vernova were worth $55,407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. RMG Wealth Management LLC acquired a new stake in shares of GE Vernova in the second quarter valued at $62,000. Meitav Investment House Ltd. acquired a new position in GE Vernova during the second quarter worth about $265,000. SeaTown Holdings Pte. Ltd. bought a new stake in GE Vernova in the second quarter worth about $6,725,000. Tcfg Wealth Management LLC lifted its holdings in GE Vernova by 11.4% in the 2nd quarter. Tcfg Wealth Management LLC now owns 811 shares of the company's stock valued at $429,000 after acquiring an additional 83 shares during the last quarter. Finally, Country Club Bank lifted its holdings in GE Vernova by 5.6% in the 2nd quarter. Country Club Bank now owns 868 shares of the company's stock valued at $451,000 after acquiring an additional 46 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of several recent research reports. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Robert W. Baird lifted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $598.50.

GE Vernova Stock Up 1.3%

Shares of NYSE:GEV opened at $602.55 on Tuesday. The company's fifty day moving average is $622.29 and its two-hundred day moving average is $503.05. The company has a market cap of $164.03 billion, a P/E ratio of 145.19, a price-to-earnings-growth ratio of 4.33 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

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. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be 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 is Monday, October 20th. GE Vernova's payout ratio is 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.

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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