State of Alaska Department of Revenue Sells 1,730 Shares of GE Vernova Inc. $GEV

Key Points

• The State of Alaska Department of Revenue has reduced its stake in GE Vernova Inc. by 5.3% after selling 1,730 shares, now holding 30,610 shares worth $16,197,000.
• Several large investors, including GAMMA Investing LLC and AQR Capital Management, have significantly increased their positions in GE Vernova during the first quarter, reflecting strong interest in the stock.
• GE Vernova reported earnings of $1.86 per share, exceeding estimates, and had a quarterly revenue of $9.11 billion, indicating an 11.1% increase compared to the previous year.

State of Alaska Department of Revenue reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,610 shares of the company's stock after selling 1,730 shares during the quarter. State of Alaska Department of Revenue's holdings in GE Vernova were worth $16,197,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter. AQR Capital Management LLC grew its stake in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Amundi raised its holdings in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company's stock worth $496,013,000 after purchasing an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock valued at $445,773,000 after buying an additional 834,129 shares in the last quarter. Finally, TD Asset Management Inc grew its position in shares of GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after buying an additional 799,388 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GEV. Robert W. Baird upped their target price on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Melius Research set a $740.00 target price on GE Vernova and gave the company a "buy" rating in a research report on Monday, September 15th. Citigroup upped their target price on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Susquehanna increased their price objective on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Trading Down 0.4%

Shares of NYSE:GEV opened at $605.21 on Friday. The business has a 50-day moving average price of $622.99 and a 200 day moving average price of $488.82. The company has a market capitalization of $164.75 billion, a price-to-earnings ratio of 145.83, a PEG ratio of 4.43 and a beta of 1.87. GE Vernova Inc. has a 12-month low of $248.50 and a 12-month high of $677.29.

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. 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 analysts' expectations of $8.78 billion. During the same quarter in the previous year, the business posted $4.65 earnings per share. The business'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 research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is 24.10%.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company's stock.

GE Vernova Company 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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