Sumitomo Mitsui DS Asset Management Company Ltd Purchases 5,033 Shares of GE Vernova Inc. $GEV

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in GE Vernova Inc. by 15.6%, acquiring an additional 5,033 shares during the second quarter, bringing their total to 37,362 shares worth approximately $19.77 million.
• GE Vernova's CFO Kenneth Scott Parks sold 3,300 shares of the company's stock, resulting in a 30.30% decrease in his ownership, which is now valued at around $4.7 million.
• Despite recent ups and downs in analyst ratings, GE Vernova has maintained an average rating of "Moderate Buy" with a price target averaging $592.35, reflecting mixed market sentiment following their earnings results.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 15.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,362 shares of the company's stock after buying an additional 5,033 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in GE Vernova were worth $19,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also 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 stake in GE Vernova in the first quarter worth $27,000. Orion Capital Management LLC bought a new stake in GE Vernova in the fourth quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC increased its position in shares of GE Vernova by 115.2% in 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. Finally, 1248 Management LLC purchased a new position in shares of GE Vernova in the first quarter valued at about $31,000.

GE Vernova Price Performance

Shares of NYSE:GEV traded up $13.61 during midday trading on Friday, hitting $624.61. The company had a trading volume of 4,104,917 shares, compared to its average volume of 2,689,348. GE Vernova Inc. has a 12-month low of $242.25 and a 12-month high of $677.29. The company has a fifty day moving average of $617.11 and a two-hundred day moving average of $477.34. The company has a market cap of $170.03 billion, a price-to-earnings ratio of 150.51, a PEG ratio of 4.45 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the business posted $4.65 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Insider Transactions at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

GEV has been the topic of a number of analyst reports. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a "buy" rating in a research report on Monday, September 15th. Susquehanna boosted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets boosted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $592.35.

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.