MetLife Investment Management LLC Sells 1,305 Shares of GE Vernova Inc. $GEV

Key Points

• MetLife Investment Management LLC reduced its stake in GE Vernova by 1.8%, selling 1,305 shares and bringing its total holdings to 71,600 shares valued at approximately $21.86 million.
• Several institutional investors, including Westover Capital Advisors and SVB Wealth LLC, have made adjustments to their positions in GE Vernova, with some increasing their stakes in the first quarter.
• Wall Street analysts have raised the target price for GE Vernova significantly, with BMO Capital Markets increasing it from $590 to $690, reflecting a generally positive outlook on the stock.

MetLife Investment Management LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,600 shares of the company's stock after selling 1,305 shares during the quarter. MetLife Investment Management LLC's holdings in GE Vernova were worth $21,858,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Westover Capital Advisors LLC boosted its position in shares of GE Vernova by 2.3% during the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after purchasing an additional 25 shares in the last quarter. SVB Wealth LLC raised 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 worth $1,094,000 after acquiring an additional 26 shares during the last quarter. Stonebridge Financial Group LLC raised its holdings in shares of GE Vernova by 8.9% in the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after acquiring an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after acquiring an additional 30 shares during the last quarter. Finally, Hemington Wealth Management raised its holdings in shares of GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after acquiring an additional 30 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Glj Research initiated coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating on the stock. Citigroup upped their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. TD Cowen upped their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Morgan Stanley raised their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $560.21.

GE Vernova Stock Up 0.0%

Shares of GEV stock opened at $606.1210 on Monday. The company has a 50 day moving average of $576.57 and a 200-day moving average of $442.36. GE Vernova Inc. has a 12-month low of $173.07 and a 12-month high of $677.29. The firm has a market cap of $165.00 billion, a P/E ratio of 146.05, a PEG ratio of 4.20 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results 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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the business posted $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.