Sumitomo Mitsui Trust Group Inc. Has $358.47 Million Holdings in GE Vernova Inc. $GEV

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its holdings in GE Vernova Inc. by 0.6%, now owning approximately $358.47 million worth of the company after acquiring additional shares in Q2.
• GE Vernova's recent quarterly earnings report showed $1.64 earnings per share, falling short of the consensus estimate, with revenues reaching $9.97 billion, exceeding analyst expectations.
• Dividend information was released, with a quarterly payment of $0.25 anticipated to be distributed to stockholders on November 17th, leading to a 0.2% dividend yield.

Sumitomo Mitsui Trust Group Inc. raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 0.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 677,437 shares of the company's stock after acquiring an additional 3,980 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of GE Vernova worth $358,466,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GEV. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. WFA Asset Management Corp purchased a new position in shares of GE Vernova during the second quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of 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 buying an additional 53 shares during the last quarter. 1248 Management LLC purchased a new position in shares of GE Vernova during the first quarter valued at approximately $31,000. Finally, Saudi Central Bank purchased a new position in shares of GE Vernova during the first quarter valued at approximately $33,000.

Insider Activity

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 directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company's stock.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $608.83 on Friday. The stock has a market cap of $165.74 billion, a PE ratio of 99.05, a price-to-earnings-growth ratio of 4.17 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a fifty day moving average of $612.04 and a 200-day moving average of $527.31.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion during the quarter, compared to analysts' expectations of $9.15 billion. During the same quarter last year, the firm posted ($0.35) earnings per share. GE Vernova's revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on GEV shares. TD Cowen dropped their price target on GE Vernova from $685.00 to $680.00 and set a "buy" rating on the stock in a report on Thursday. UBS Group set a $710.00 price target on GE Vernova in a report on Thursday. Melius Research set a $740.00 price target on GE Vernova and gave the stock a "buy" rating in a report on Monday, September 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of GE Vernova in a report on Wednesday, October 8th. Finally, Cowen reiterated a "buy" rating on shares of GE Vernova in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $606.85.

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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