GE Vernova Inc. $GEV Shares Sold by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board reduced its stake in GE Vernova Inc. by 3.0%, now holding a total of 368,623 shares valued at $112.5 million.
• Analysts have mixed ratings on GE Vernova, with Mizuho downgrading it to "neutral" while Bank of America increased their price objective to $620.00, reflecting cautious optimism in the company’s performance.
• GE Vernova has declared a quarterly dividend of $0.25, amounting to an annualized dividend of $1.00, reflecting a payout ratio of 24.10% as of the end of the previous quarter.

Canada Pension Plan Investment Board decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 368,623 shares of the company's stock after selling 11,210 shares during the quarter. Canada Pension Plan Investment Board owned about 0.14% of GE Vernova worth $112,533,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Westover Capital Advisors LLC boosted its position in shares of GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after acquiring an additional 25 shares during the last quarter. SVB Wealth LLC boosted its holdings in shares of GE Vernova by 0.7% in the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock valued at $1,094,000 after purchasing an additional 26 shares during the last quarter. Stonebridge Financial Group LLC grew its stake in shares of GE Vernova by 8.9% during the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock valued at $105,000 after buying an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of GE Vernova by 0.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock valued at $2,598,000 after buying an additional 30 shares during the period. Finally, Hemington Wealth Management increased its holdings in shares of GE Vernova by 20.3% during the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after buying an additional 30 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GEV. Wells Fargo & Company lifted their target price on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Citigroup upped their price target on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. UBS Group began coverage on GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. Finally, Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

GE Vernova Stock Performance

Shares of GE Vernova stock traded down $35.96 during trading on Tuesday, reaching $577.01. The company had a trading volume of 4,126,774 shares, compared to its average volume of 3,520,829. The company has a market cap of $157.07 billion, a price-to-earnings ratio of 139.27, a price-to-earnings-growth ratio of 4.24 and a beta of 1.88. The firm's fifty day moving average is $592.03 and its 200-day moving average is $452.65. GE Vernova Inc. has a fifty-two week low of $187.55 and a fifty-two week high of $677.29.

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 for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

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.