Panagora Asset Management Inc. Sells 87,388 Shares of GE Vernova Inc. $GEV

Key Points

• Panagora Asset Management Inc. reduced its holdings in GE Vernova Inc. by 33.6%, selling 87,388 shares and now owning 172,462 shares worth approximately $52 million.
• GE Vernova's stock is currently rated with a consensus of "Moderate Buy", with an average target price forecast of $560.21.
• The company recently announced a quarterly dividend of $0.25 per share, equating to an annualized yield of 0.2%.

Panagora Asset Management Inc. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 33.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,462 shares of the company's stock after selling 87,388 shares during the period. Panagora Asset Management Inc. owned 0.06% of GE Vernova worth $52,649,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GEV. EQ Wealth Advisors LLC bought a new position in GE Vernova in the 1st quarter valued at $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the 1st quarter valued at $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the 4th quarter worth $28,000. Orion Capital Management LLC acquired a new stake in GE Vernova during the 4th quarter worth $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares during the period.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 0.15% of the company's stock.

GE Vernova Stock Down 3.0%

Shares of NYSE:GEV traded down $19.09 during midday trading on Friday, reaching $614.60. The company had a trading volume of 2,264,673 shares, compared to its average volume of 2,392,169. The business's 50 day moving average price is $589.73 and its 200 day moving average price is $450.93. The stock has a market cap of $167.31 billion, a PE ratio of 148.10, a P/E/G ratio of 4.24 and a beta of 1.88. GE Vernova Inc. has a 1-year low of $185.35 and a 1-year high of $677.29.

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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on GEV shares. UBS Group started coverage on GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price objective on the stock. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. Bank of America lifted their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Finally, Jefferies Financial Group downgraded GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the company from $427.00 to $517.00 in a research note on Thursday, May 29th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $560.21.

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.