Voya Investment Management LLC Purchases 23,815 Shares of GE Vernova Inc. $GEV

Key Points

• Voya Investment Management LLC increased its stake in GE Vernova Inc. by 23.7%, resulting in ownership of 124,458 shares valued at approximately $37.99 million.
• Institutional investors including Vanguard Group, Goldman Sachs, and Wellington Management Group have also significantly increased their holdings in GE Vernova, showcasing a strong interest from major financial players.
• Analysts have issued positive ratings for GE Vernova, with several firms raising their price targets; the average consensus rating remains a "Moderate Buy" with a price target of $580.04.

Voya Investment Management LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 23.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,458 shares of the company's stock after purchasing an additional 23,815 shares during the quarter. Voya Investment Management LLC's holdings in GE Vernova were worth $37,995,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GEV. Brighton Jones LLC increased its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares in the last quarter. American Assets Inc. acquired a new position in GE Vernova during the 4th quarter worth approximately $658,000. Janus Henderson Group PLC increased its position in GE Vernova by 0.4% during the 4th quarter. Janus Henderson Group PLC now owns 33,013 shares of the company's stock worth $10,867,000 after purchasing an additional 132 shares in the last quarter. Quadcap Wealth Management LLC acquired a new position in GE Vernova during the 4th quarter worth approximately $353,000. Finally, ProShare Advisors LLC increased its position in GE Vernova by 23.1% during the 4th quarter. ProShare Advisors LLC now owns 43,718 shares of the company's stock worth $14,380,000 after purchasing an additional 8,202 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GEV. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a research report on Monday, July 28th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target for the company in a research report on Monday. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Trading Up 0.4%

NYSE GEV traded up $2.54 on Monday, hitting $628.09. 1,849,780 shares of the company were exchanged, compared to its average volume of 3,502,302. The company has a market cap of $170.98 billion, a PE ratio of 151.35, a PEG ratio of 4.32 and a beta of 1.88. GE Vernova Inc. has a 12 month low of $225.24 and a 12 month high of $677.29. The stock has a fifty day moving average of $608.65 and a 200-day moving average of $469.09.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, 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 announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

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.