GE Vernova Inc. $GEV Shares Sold by Newport Trust Company LLC

Key Points

• Newport Trust Company LLC reduced its holdings in GE Vernova Inc. by 2.9%, now owning approximately 3,564,735 shares worth about $1.09 billion.
• Several analyst firms have recently raised their price targets on GE Vernova, with BMO Capital Markets increasing it to $690.00 and Barclays to $706.00, indicating strong investment interest.
• GE Vernova posted a quarterly earnings report showcasing an EPS of $1.86, exceeding expectations, and reported a revenue increase of 11.1% year-over-year.

Newport Trust Company LLC trimmed its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 2.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,564,735 shares of the company's stock after selling 108,160 shares during the period. GE Vernova accounts for approximately 2.8% of Newport Trust Company LLC's investment portfolio, making the stock its 10th biggest position. Newport Trust Company LLC owned 1.31% of GE Vernova worth $1,088,242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after buying an additional 214,483 shares during the last quarter. Northern Trust Corp raised its holdings in GE Vernova by 15.0% in the 4th quarter. Northern Trust Corp now owns 2,630,122 shares of the company's stock valued at $865,126,000 after buying an additional 343,837 shares during the last quarter. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the period. Finally, Wellington Management Group LLP grew its holdings in GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GEV shares. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Robert W. Baird raised their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Citigroup lifted their target price on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. TD Cowen increased their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Four equities research 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.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Up 0.0%

GEV traded up $0.1210 during trading on Friday, hitting $606.1210. The company's stock had a trading volume of 2,724,290 shares, compared to its average volume of 2,615,281. The firm has a market capitalization 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 Inc. has a twelve month low of $173.07 and a twelve month high of $677.29. The stock's fifty day moving average price is $576.57 and its 200-day moving average price is $441.89.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio 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.