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

Key Points

• Rafferty Asset Management LLC has reduced its stake in GE Vernova Inc. by 20.0%, now holding 20,605 shares valued at $6,290,000 following the sale of 5,140 shares.
• GE Vernova reported earnings of $1.86 EPS for the recent quarter, surpassing expectations and showing an 11.1% increase in revenue year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, providing a 0.2% yield with a payout ratio of 24.10%.

Rafferty Asset Management LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,605 shares of the company's stock after selling 5,140 shares during the quarter. Rafferty Asset Management LLC's holdings in GE Vernova were worth $6,290,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GEV. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the 1st quarter valued at approximately $27,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova during the 1st quarter valued at approximately $27,000. Clarity Asset Management Inc. acquired a new stake in GE Vernova during the 4th quarter valued at approximately $28,000. Orion Capital Management LLC acquired a new stake in GE Vernova during the 4th quarter valued at approximately $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares in the last quarter.

GE Vernova Price Performance

NYSE:GEV opened at $634.27 on Friday. GE Vernova Inc. has a 12-month low of $185.35 and a 12-month high of $677.29. The firm has a market capitalization of $172.66 billion, a P/E ratio of 152.84, a P/E/G ratio of 4.30 and a beta of 1.90. The business has a 50 day simple moving average of $587.17 and a 200 day simple moving average of $448.15.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on GEV. Mizuho lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research note on Monday, July 28th. Wells Fargo & Company lifted their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, 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 research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction that occurred 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 owned 7,590 shares in the company, 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 corporate insiders.

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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