New England Research & Management Inc. Sells 3,995 Shares of GE Vernova Inc. $GEV

Key Points

• New England Research & Management Inc. significantly reduced its holdings in GE Vernova, selling 3,995 shares during the second quarter, resulting in a total of 710 shares remaining, valued at approximately $376,000.
• GE Vernova reported an earnings per share (EPS) of $1.86 for the quarter, surpassing estimates, with revenue increasing by 11.1% year-over-year to $9.11 billion.
• The company announced a quarterly dividend of $0.25 per share, leading to an annualized dividend of $1.00 and a yield of 0.2%.

New England Research & Management Inc. reduced its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 84.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 710 shares of the company's stock after selling 3,995 shares during the period. New England Research & Management Inc.'s holdings in GE Vernova were worth $376,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in GE Vernova in the first quarter worth about $912,000. Resona Asset Management Co. Ltd. boosted its holdings in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after acquiring an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new position in shares of GE Vernova in the 1st quarter worth approximately $458,000. Golden State Wealth Management LLC grew its holdings in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after buying an additional 817 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of GE Vernova by 8.5% in the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock valued at $11,485,000 after purchasing an additional 2,942 shares in the last quarter.

GE Vernova Stock Up 0.4%

GEV opened at $628.09 on Tuesday. The company has a fifty day simple moving average of $610.59 and a 200 day simple moving average of $471.14. The stock has a market cap of $170.98 billion, a P/E ratio of 151.35, a P/E/G ratio of 4.32 and a beta of 1.87. GE Vernova Inc. has a 12 month low of $225.24 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the business posted $4.65 EPS. GE Vernova's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business'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 transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HSBC boosted their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a report on Friday, September 5th. The Goldman Sachs Group increased their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Morgan Stanley increased their price objective on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $592.35.

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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