Jennison Associates LLC Increases Position in GE Vernova Inc. $GEV

Key Points

• Jennison Associates LLC boosted its GE Vernova stake by 39.7% in the first quarter, ending with 904,703 shares valued at about $789.7 million.
• GE Vernova reported a strong quarter, with earnings and revenue both topping analyst estimates; revenue rose 17% year over year and the company posted a much higher EPS than expected.
• Analysts remain broadly positive, with several firms raising price targets and a consensus rating of Moderate Buy, while recent headlines point to growth tied to AI-driven power demand and the company’s large backlog.

Jennison Associates LLC grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 39.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 904,703 shares of the company's stock after buying an additional 256,912 shares during the period. Jennison Associates LLC owned 0.34% of GE Vernova worth $789,715,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Auto Owners Insurance Co increased its position in GE Vernova by 110,973.4% in the 4th quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company's stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the period. Norges Bank acquired a new stake in GE Vernova during the 4th quarter worth approximately $2,283,114,000. Northwestern Mutual Wealth Management Co. lifted its position in GE Vernova by 5,171.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock worth $1,603,114,000 after acquiring an additional 2,406,326 shares during the period. Corient Private Wealth LLC grew its stake in shares of GE Vernova by 2,802.8% in the 4th quarter. Corient Private Wealth LLC now owns 1,608,714 shares of the company's stock valued at $1,051,407,000 after purchasing an additional 1,553,295 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of GE Vernova by 12.8% in the 4th quarter. Morgan Stanley now owns 6,054,474 shares of the company's stock valued at $3,957,024,000 after purchasing an additional 685,466 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by insiders.

GE Vernova Stock Up 2.1%

GEV opened at $1,058.44 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. GE Vernova Inc. has a 12 month low of $530.16 and a 12 month high of $1,195.94. The stock has a market capitalization of $284.42 billion, a P/E ratio of 30.83, a P/E/G ratio of 3.90 and a beta of 1.09. The business has a 50 day simple moving average of $1,037.54 and a 200-day simple moving average of $908.87.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the company posted $0.91 earnings per share. GE Vernova's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts anticipate that GE Vernova Inc. will post 15.06 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, June 16th. GE Vernova's payout ratio is presently 5.83%.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Morgan Stanley upped their price target on GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a research note on Monday, March 23rd. BMO Capital Markets boosted their price objective on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Zacks Research downgraded shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,089.88.

Key Headlines Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: Erste Group Bank raised its FY2027 EPS estimate for GE Vernova and kept a Strong-Buy rating, reinforcing the view that earnings could keep growing over the next few years.
• Positive Sentiment: Bernstein recently initiated coverage with an Outperform rating and a $1,206 price target, citing GE Vernova’s position to benefit from global energy trends and power demand from AI data centers. Article Title
• Positive Sentiment: Investors are focusing on the company’s large backlog, raised revenue and free cash flow guidance, and major investment plan of $11 billion in capex and R&D through 2028, which signals confidence in long-term demand. Article Title
• Neutral Sentiment: GE Vernova is also benefiting from broader market interest in AI and energy infrastructure stocks, especially with major catalysts like Google’s earnings and capex guidance potentially influencing the whole sector. Article Title
• Neutral Sentiment: Recent articles also show investors heavily searching the stock, suggesting strong attention ahead of earnings, though not necessarily a new fundamental catalyst. Article Title
• Negative Sentiment: One recent note highlighted conflicting analyst views on GE Vernova, which may temper enthusiasm if investors become more cautious into earnings. Article Title

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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