Pennant Investors LP Has $14.04 Million Stake in GE Vernova Inc. $GEV

Key Points

• Pennant Investors LP reduced its stake in GE Vernova Inc. by 23.3% during the first quarter, now holding 46,000 shares valued at approximately $14.04 million.
• GE Vernova's latest earnings report showed an EPS of $1.86, surpassing estimates and marking an 11.1% revenue increase year-over-year.
• The company recently declared a quarterly dividend of $0.25, translating to an annual yield of 0.2% with a payout ratio of 24.10%.

Pennant Investors LP trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 23.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,000 shares of the company's stock after selling 14,000 shares during the quarter. GE Vernova comprises 3.7% of Pennant Investors LP's portfolio, making the stock its 11th biggest holding. Pennant Investors LP's holdings in GE Vernova were worth $14,043,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. EQ Wealth Advisors LLC acquired a new position in GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the first quarter worth $27,000. Clarity Asset Management Inc. acquired a new position in GE Vernova during the fourth quarter worth $28,000. Orion Capital Management LLC acquired a new position in GE Vernova during the fourth quarter worth $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares during the period.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of the transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This 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 at this hyperlink. 0.15% of the stock is owned by company insiders.

GE Vernova Stock Performance

NYSE GEV opened at $634.27 on Friday. The firm has a 50-day simple moving average of $587.17 and a 200 day simple moving average of $448.15. GE Vernova Inc. has a twelve month low of $185.35 and a twelve month high of $677.29. The stock has a market cap of $172.66 billion, a PE ratio of 152.84, a PEG ratio of 4.30 and a beta of 1.90.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the business posted $4.65 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Research analysts forecast 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 given 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 is 24.10%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GEV shares. The Goldman Sachs Group upped their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Citigroup upped their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target 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.

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