Northeast Investment Management Raises Holdings in GE Vernova Inc. $GEV

Key Points

• Northeast Investment Management increased its holdings in GE Vernova Inc. by 560.5%, acquiring a total of 7,820 shares worth approximately $4.14 million as of the latest SEC filing.
• Multiple institutional investors, including Vanguard Group and Goldman Sachs, also boosted their positions in GE Vernova during the first quarter, reflecting strong institutional interest in the company.
• GE Vernova reported better-than-expected quarterly earnings with an EPS of $1.86, surpassing analyst estimates of $1.63 and achieving a revenue of $9.11 billion.

Northeast Investment Management boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 560.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,820 shares of the company's stock after buying an additional 6,636 shares during the quarter. Northeast Investment Management's holdings in GE Vernova were worth $4,138,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. increased its holdings in GE Vernova by 7.4% during the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock valued at $634,984,000 after buying an additional 367,150 shares during the period. Wellington Management Group LLP increased its holdings in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after buying an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after purchasing an additional 622,730 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GEV. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Royal Bank Of Canada set a $605.00 price target on shares of GE Vernova and gave the stock a "sector perform" rating in a report on Wednesday, October 1st. Wells Fargo & Company lifted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Morgan Stanley lifted their price target on shares of GE Vernova from $675.00 to $690.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Mizuho lifted their price target on shares of GE Vernova from $670.00 to $677.00 and gave the stock a "neutral" rating in a report on Wednesday. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $592.61.

Insider Buying and Selling at GE Vernova

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

GE Vernova Price Performance

Shares of GEV opened at $599.62 on Friday. The firm has a market capitalization of $163.23 billion, a PE ratio of 144.49, a price-to-earnings-growth ratio of 4.35 and a beta of 1.72. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company's fifty day moving average price is $616.42 and its 200-day moving average price 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 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for 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%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts anticipate 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 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%.

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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