GE Vernova Inc. $GEV Stake Lifted by Harbour Investments Inc.

Key Points

• Harbour Investments Inc. raised its stake in GE Vernova Inc. by 75.1% during the second quarter, bringing its total holdings to 5,427 shares valued at approximately $2.87 million.
• Analysts have varied ratings and price targets for GE Vernova, with price targets ranging from $475.00 to $740.00, and an average rating of "Moderate Buy".
• GE Vernova announced a quarterly dividend of $0.25 per share, with an ex-dividend date of October 20th, representing a 0.2% dividend yield.

Harbour Investments Inc. increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 75.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,427 shares of the company's stock after buying an additional 2,327 shares during the quarter. Harbour Investments Inc.'s holdings in GE Vernova were worth $2,872,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 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 purchasing an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of GE Vernova by 21.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock worth $634,984,000 after purchasing an additional 367,150 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after purchasing an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after purchasing an additional 622,730 shares in the last quarter.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company'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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on GEV. JPMorgan Chase & Co. increased their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Melius Research set a $740.00 price target on GE Vernova and gave the stock a "buy" rating in a research note on Monday, September 15th. Redburn Partners set a $475.00 price target on GE Vernova in a research note on Wednesday. Robert W. Baird increased their price target on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Rothschild & Co Redburn reissued a "sell" rating and issued a $475.00 price target on shares of GE Vernova in a research note on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $592.61.

GE Vernova Stock Down 2.3%

Shares of GE Vernova stock opened at $601.91 on Friday. The firm has a market cap of $163.85 billion, a price-to-earnings ratio of 145.04, a price-to-earnings-growth ratio of 4.46 and a beta of 1.72. The business has a fifty day simple moving average of $617.40 and a 200-day simple moving average of $517.31. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova's dividend payout ratio is currently 24.10%.

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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