Evergreen Quality Fund GP Ltd. Reduces Stake in GE Vernova Inc. $GEV

Key Points

• Evergreen Quality Fund GP Ltd. reduced its stake in GE Vernova Inc. by 34.9% in Q1, selling 757,350 shares, leaving it with approximately 1.41 million shares valued at $430.7 million.
• Several institutional investors increased their holdings, with Brighton Jones LLC raising its stake by 29.4% and AlTi Global Inc. boosting its position by 55.6% during the same period.
• Analysts have mixed ratings on GE Vernova, with Mizuho downgrading the stock to "neutral" while Wells Fargo raised its target price to $697.00, giving it an "overweight" rating.

Evergreen Quality Fund GP Ltd. cut its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 34.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,410,816 shares of the company's stock after selling 757,350 shares during the period. GE Vernova accounts for 16.1% of Evergreen Quality Fund GP Ltd.'s holdings, making the stock its 3rd largest position. Evergreen Quality Fund GP Ltd. owned about 0.52% of GE Vernova worth $430,694,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after buying an additional 753 shares in the last quarter. American Assets Inc. bought a new stake in shares of GE Vernova in the fourth quarter worth $658,000. AlTi Global Inc. boosted its position in GE Vernova by 55.6% during the fourth quarter. AlTi Global Inc. now owns 1,477 shares of the company's stock valued at $490,000 after acquiring an additional 528 shares during the last quarter. AXA S.A. boosted its position in GE Vernova by 13.0% during the fourth quarter. AXA S.A. now owns 28,052 shares of the company's stock valued at $9,227,000 after acquiring an additional 3,229 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in shares of GE Vernova by 15.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 3,221 shares of the company's stock worth $1,060,000 after purchasing an additional 425 shares in the last quarter.

Insider Buying and Selling

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.15% of the stock is currently owned by insiders.

GE Vernova Stock Performance

NYSE:GEV traded up $22.48 on Thursday, hitting $599.52. The stock had a trading volume of 2,658,179 shares, compared to its average volume of 3,522,072. The stock has a market cap of $163.20 billion, a P/E ratio of 144.46, a price-to-earnings-growth ratio of 4.24 and a beta of 1.87. GE Vernova Inc. has a 1 year low of $193.38 and a 1 year high of $677.29. The firm's fifty day simple moving average is $594.87 and its two-hundred day simple moving average is $454.39.

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

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GEV shares. Susquehanna increased their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Robert W. Baird upped their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, Wells Fargo & Company upped their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued 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 target price 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.