Gabelli Funds LLC Trims Stock Position in GE Vernova Inc. $GEV

Key Points

• Gabelli Funds LLC reduced its holdings in GE Vernova Inc. by 15.4% in Q1, now owning 80,815 shares valued at approximately $24.67 million.
• Despite Gabelli’s reduction, several institutions like Vanguard and Goldman Sachs increased their stakes, indicating continued investor interest in GE Vernova.
• The company's recent quarterly earnings report surpassed estimates with $9.11 billion in revenue and earnings per share of $1.86, suggesting strong business performance.

Gabelli Funds LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,815 shares of the company's stock after selling 14,715 shares during the quarter. Gabelli Funds LLC's holdings in GE Vernova were worth $24,671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ceredex Value Advisors LLC increased its holdings in GE Vernova by 15.0% in the first quarter. Ceredex Value Advisors LLC now owns 235,964 shares of the company's stock valued at $72,035,000 after buying an additional 30,694 shares in the last quarter. FORA Capital LLC acquired a new stake in GE Vernova in the 1st quarter worth about $16,605,000. PKS Advisory Services LLC boosted its stake in shares of GE Vernova by 67.2% in the first quarter. PKS Advisory Services LLC now owns 1,421 shares of the company's stock worth $434,000 after acquiring an additional 571 shares during the last quarter. ICONIQ Capital LLC increased its position in shares of GE Vernova by 10.5% during the first quarter. ICONIQ Capital LLC now owns 1,421 shares of the company's stock worth $434,000 after purchasing an additional 135 shares in the last quarter. Finally, SVB Wealth LLC increased its position in shares of GE Vernova by 0.7% during the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after purchasing an additional 26 shares in the last quarter.

GE Vernova Trading Down 3.0%

NYSE:GEV traded down $19.09 during trading hours on Friday, hitting $614.60. The company's stock had a trading volume of 2,264,673 shares, compared to its average volume of 2,432,720. The stock has a fifty day moving average of $589.73 and a 200-day moving average of $449.81. The stock has a market capitalization of $167.31 billion, a P/E ratio of 148.10, a price-to-earnings-growth ratio of 4.38 and a beta of 1.90. GE Vernova Inc. has a 52-week low of $185.35 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for 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 business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on GEV. BMO Capital Markets boosted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Robert W. Baird boosted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company 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, Jefferies Financial Group downgraded shares of GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the stock from $427.00 to $517.00 in a research note on Thursday, May 29th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

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.