GE Vernova Inc. $GEV Stock Holdings Lessened by Tandem Capital Management Corp ADV

Key Points

• Tandem Capital Management Corp ADV reduced its holdings in GE Vernova Inc. by 4.9% during the second quarter, now holding 10,680 shares valued at approximately $5.65 million.
• The CFO, Kenneth Scott Parks, sold 3,300 shares at an average price of $620, resulting in a decrease of 30.3% in his ownership.
• GE Vernova announced a quarterly dividend of $0.25 per share, with a payout ratio of 24.10%, set to be paid on November 17th.

Tandem Capital Management Corp ADV decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,680 shares of the company's stock after selling 555 shares during the quarter. GE Vernova makes up 2.9% of Tandem Capital Management Corp ADV's investment portfolio, making the stock its 8th largest position. Tandem Capital Management Corp ADV's holdings in GE Vernova were worth $5,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Armstrong Fleming & Moore Inc bought a new position in GE Vernova in the second quarter worth about $673,000. Hager Investment Management Services LLC raised its stake in GE Vernova by 38.6% in the second quarter. Hager Investment Management Services LLC now owns 1,306 shares of the company's stock worth $691,000 after buying an additional 364 shares in the last quarter. Vontobel Holding Ltd. raised its stake in GE Vernova by 146.1% in the second quarter. Vontobel Holding Ltd. now owns 22,520 shares of the company's stock worth $11,916,000 after buying an additional 13,370 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in GE Vernova by 4.3% in the second quarter. Maryland State Retirement & Pension System now owns 13,288 shares of the company's stock worth $7,031,000 after buying an additional 549 shares in the last quarter. Finally, Optas LLC raised its stake in GE Vernova by 5.3% in the second quarter. Optas LLC now owns 2,063 shares of the company's stock worth $1,092,000 after buying an additional 103 shares in the last quarter.

Insider Activity at GE Vernova

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

GE Vernova Stock Up 3.2%

NYSE:GEV opened at $625.47 on Thursday. The company's 50 day moving average price is $621.18 and its 200-day moving average price is $504.60. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The stock has a market cap of $170.27 billion, a price-to-earnings ratio of 150.72, a PEG ratio of 4.41 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the company posted $4.65 earnings per share. The business'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. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GEV shares. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a research note on Monday, July 28th. Royal Bank Of Canada set a $605.00 price target on shares of GE Vernova and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. BMO Capital Markets increased their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group upped their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $598.50.

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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