GE Vernova Inc. $GEV Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company has reduced its holdings in GE Vernova Inc. by 3.9%, selling 7,682 shares in the first quarter, and now owns 191,166 shares valued at approximately $58.36 million.
• Major institutional investors such as Vanguard Group and Goldman Sachs have increased their stakes in GE Vernova by 1.8% and 7.4% respectively, underscoring growing confidence in the company's potential.
• GE Vernova's stock has experienced significant price target upgrades from analysts, with projections now ranging from $570.00 to $706.00, highlighting an overall consensus rating of "Moderate Buy."

The Manufacturers Life Insurance Company decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 191,166 shares of the company's stock after selling 7,682 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of GE Vernova worth $58,359,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GEV. Clarity Asset Management Inc. purchased a new stake in GE Vernova during the fourth quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova during the 1st quarter worth about $27,000. Orion Capital Management LLC acquired a new stake in GE Vernova during the 4th quarter worth about $30,000. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the 1st quarter worth about $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in GE Vernova by 115.2% during 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.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

GE Vernova Stock Performance

Shares of NYSE GEV traded down $19.09 during midday trading on Friday, reaching $614.60. 2,264,673 shares of the stock were exchanged, compared to its average volume of 2,392,169. The company has a 50 day simple moving average of $589.73 and a 200 day simple moving average of $450.93. The stock has a market capitalization of $167.31 billion, a P/E ratio of 148.10, a PEG ratio of 4.24 and a beta of 1.88. GE Vernova Inc. has a twelve month low of $185.35 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research report on Monday, July 28th. Glj Research assumed coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group raised their target price on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $560.21.

About GE Vernova

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.