Redwood Investments LLC Takes $2.22 Million Position in GE Vernova Inc. $GEV

Key Points

• Redwood Investments LLC has acquired a new position in GE Vernova Inc. with a purchase of 7,264 shares valued at approximately $2.2 million during the first quarter.
• Several institutional investors, including Vanguard Group and Goldman Sachs, have significantly increased their holdings in GE Vernova, indicating strong interest in the stock.
• GE Vernova recently reported quarterly earnings with an EPS of $1.86, exceeding estimates, and announced a quarterly dividend of $0.25, reflecting its financial strength.

Redwood Investments LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,264 shares of the company's stock, valued at approximately $2,218,000.

Other hedge funds have also recently modified their holdings of the company. IMA Advisory Services Inc. bought a new position in shares of GE Vernova during the 1st quarter worth approximately $27,000. Orion Capital Management LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $30,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares during the period. Finally, Saudi Central Bank bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $33,000.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on 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 directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GEV shares. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Jefferies Financial Group cut shares of GE Vernova from a "buy" rating to a "hold" rating and lifted their price target for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their target price on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Four investment 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $573.75.

GE Vernova Trading Up 6.1%

Shares of GE Vernova stock traded up $37.08 during trading on Wednesday, hitting $642.78. The stock had a trading volume of 3,870,487 shares, compared to its average volume of 3,512,035. The firm has a market cap of $174.98 billion, a price-to-earnings ratio of 154.89, a P/E/G ratio of 4.15 and a beta of 1.88. GE Vernova Inc. has a 12 month low of $199.65 and a 12 month high of $677.29. The business's 50-day moving average is $601.36 and its 200 day moving average is $461.60.

GE Vernova (NYSE:GEV - Get Free Report) last announced its 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 company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were given a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a 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.