OMERS ADMINISTRATION Corp Has $3 Million Position in GE Vernova Inc. $GEV

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in GE Vernova Inc. by 14.1% during the first quarter, now holding 9,813 shares valued at approximately $2,996,000.
• Several hedge funds, including Brighton Jones LLC and American Assets Inc., have recently increased or initiated positions in GE Vernova, signaling ongoing interest in the stock.
• Despite a recent downgrade from a "buy" to a "hold" rating by Wall Street Zen, analysts from Goldman Sachs and Citigroup have raised their price targets on GE Vernova shares.

OMERS ADMINISTRATION Corp lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 14.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 9,813 shares of the company's stock after selling 1,608 shares during the period. OMERS ADMINISTRATION Corp's holdings in GE Vernova were worth $2,996,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. AG grew its holdings in shares of GE Vernova by 55.9% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 19,698 shares of the company's stock worth $6,013,000 after purchasing an additional 7,060 shares during the last quarter. RB Capital Management LLC lifted its stake in shares of GE Vernova by 7.6% during the first quarter. RB Capital Management LLC now owns 1,290 shares of the company's stock valued at $394,000 after acquiring an additional 91 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of GE Vernova by 2.6% during the first quarter. CreativeOne Wealth LLC now owns 2,701 shares of the company's stock valued at $825,000 after acquiring an additional 69 shares during the period. Ieq Capital LLC lifted its stake in shares of GE Vernova by 73.0% during the first quarter. Ieq Capital LLC now owns 51,093 shares of the company's stock valued at $15,598,000 after acquiring an additional 21,552 shares during the period. Finally, Quadcap Wealth Management LLC lifted its stake in shares of GE Vernova by 7.8% during the first quarter. Quadcap Wealth Management LLC now owns 1,156 shares of the company's stock valued at $353,000 after acquiring an additional 84 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GEV shares. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Wells Fargo & Company upped their price target on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

GE Vernova Stock Performance

NYSE:GEV traded down $33.98 during mid-day trading on Tuesday, hitting $578.99. The company had a trading volume of 3,866,557 shares, compared to its average volume of 3,519,359. GE Vernova Inc. has a fifty-two week low of $187.55 and a fifty-two week high of $677.29. The business's fifty day moving average is $592.03 and its two-hundred day moving average is $452.65. The firm has a market cap of $157.61 billion, a P/E ratio of 139.36, a P/E/G ratio of 4.24 and a beta of 1.88.

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

GE Vernova Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate 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.