GE Vernova Inc. (NYSE:GEV) Shares Sold by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd significantly reduced its holdings in GE Vernova Inc. by 74.5%, selling 17,815 shares and leaving them with 6,099 shares valued at $1,862,000.
• Several analysts have raised their price targets for GE Vernova, with Citigroup setting a new target of $670 and JPMorgan Chase & Co. raising theirs to $715, reflecting positive sentiment around the company's performance.
• GE Vernova recently reported earnings of $1.86 per share, exceeding estimates and reflecting a revenue increase of 11.1% year-over-year, signaling strong operational growth.

Harvest Fund Management Co. Ltd lessened its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 74.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,099 shares of the company's stock after selling 17,815 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in GE Vernova were worth $1,862,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEV. Brighton Jones LLC boosted its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the period. American Assets Inc. purchased a new position in shares of GE Vernova during the fourth quarter worth about $658,000. Orion Portfolio Solutions LLC grew its holdings in shares of GE Vernova by 14.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 9,752 shares of the company's stock worth $3,208,000 after buying an additional 1,203 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new stake in GE Vernova in the 4th quarter valued at approximately $70,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of GE Vernova by 11.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 28,710 shares of the company's stock worth $9,444,000 after acquiring an additional 3,026 shares in the last quarter.

GE Vernova Stock Performance

Shares of NYSE GEV traded down $3.63 during midday trading on Friday, hitting $656.66. 3,074,814 shares of the company's stock traded hands, compared to its average volume of 3,673,196. GE Vernova Inc. has a 1 year low of $150.01 and a 1 year high of $677.29. The stock has a market capitalization of $178.76 billion, a price-to-earnings ratio of 158.23, a price-to-earnings-growth ratio of 4.53 and a beta of 1.86. The firm has a fifty day moving average of $526.57 and a 200 day moving average of $413.87.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 3.16% and a return on equity of 13.23%. The company's revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $4.65 EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Monday, July 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, July 21st. GE Vernova's payout ratio is 24.10%.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Wells Fargo & Company lifted their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group raised their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Bank of America raised their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Barclays raised their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

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.