Mutual of America Capital Management LLC Lowers Holdings in GE Vernova Inc. $GEV

Key Points

• Mutual of America Capital Management LLC reduced its stake in GE Vernova Inc. by 4.9%, owning 33,517 shares valued at approximately $17.7 million after selling 1,711 shares.
• GE Vernova's quarterly earnings reported an EPS of $1.86, surpassing analyst expectations, and the company achieved revenues of $9.11 billion, marking an 11.1% increase year-over-year.
• The company declared a quarterly dividend of $0.25 per share, set to be distributed on November 17th, with a total annualized dividend of $1.00 and a yield of 0.2%.

Mutual of America Capital Management LLC lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,517 shares of the company's stock after selling 1,711 shares during the quarter. Mutual of America Capital Management LLC's holdings in GE Vernova were worth $17,736,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Highline Wealth Partners LLC increased its stake in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after buying an additional 18 shares during the period. Raleigh Capital Management Inc. purchased a new position in GE Vernova during the 2nd quarter valued at about $37,000. IMA Advisory Services Inc. purchased a new position in GE Vernova during the 1st quarter valued at about $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. Finally, West Branch Capital LLC lifted its position in shares of GE Vernova by 25.6% in the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock worth $52,000 after purchasing an additional 20 shares during the period.

GE Vernova Stock Performance

Shares of GEV stock opened at $599.62 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm has a market capitalization of $163.23 billion, a price-to-earnings ratio of 144.49, a PEG ratio of 4.35 and a beta of 1.72. The stock's 50-day simple moving average is $616.42 and its 200-day simple moving average is $520.58.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm 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%. GE Vernova's revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GEV shares. Glj Research lifted their price objective on shares of GE Vernova from $702.00 to $758.00 and gave the company a "buy" rating in a report on Wednesday. BMO Capital Markets lifted their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Weiss Ratings reissued a "hold (c)" rating on shares of GE Vernova in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Finally, Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $592.61.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.

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.

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