Hardman Johnston Global Advisors LLC Invests $270,000 in GE Vernova Inc. $GEV

Key Points

• Hardman Johnston Global Advisors LLC has invested $270,000 in GE Vernova Inc., acquiring 511 shares in the second quarter.
• GE Vernova reported a quarterly EPS of $1.86, exceeding estimates, with quarterly revenue of $9.11 billion, up 11.1% compared to last year.
• A quarterly dividend of $0.25 per share has been announced, representing an annualized yield of 0.2%, with the ex-dividend date set for October 20th.

Hardman Johnston Global Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 511 shares of the company's stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornell Pochily Investment Advisors Inc. bought a new position in shares of GE Vernova in the second quarter valued at approximately $207,000. J. Safra Sarasin Holding AG grew its stake in GE Vernova by 37.9% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 21,846 shares of the company's stock valued at $11,560,000 after buying an additional 6,001 shares during the last quarter. Lecap Asset Management Ltd. grew its stake in GE Vernova by 163.8% in the 2nd quarter. Lecap Asset Management Ltd. now owns 3,516 shares of the company's stock valued at $1,860,000 after buying an additional 2,183 shares during the last quarter. ASR Vermogensbeheer N.V. grew its stake in GE Vernova by 23.6% in the 2nd quarter. ASR Vermogensbeheer N.V. now owns 28,962 shares of the company's stock valued at $15,325,000 after buying an additional 5,522 shares during the last quarter. Finally, Montgomery Investment Management Inc. bought a new stake in GE Vernova during the second quarter valued at about $291,000.

GE Vernova Trading Up 0.1%

Shares of NYSE:GEV opened at $606.80 on Friday. GE Vernova Inc. has a 1-year low of $250.89 and a 1-year high of $677.29. The firm has a market capitalization of $165.18 billion, a PE ratio of 146.22, a PEG ratio of 4.42 and a beta of 1.72. The business's 50 day moving average is $624.20 and its 200-day moving average is $496.99.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD Cowen upped their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. HSBC boosted their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research report on Friday, September 5th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target on the stock in a research report on Monday, September 15th. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Finally, Jefferies Financial Group raised their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research note on Friday, September 12th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $598.50.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

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.

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