Wellington Management Group LLP Purchases 684,794 Shares of GE Vernova Inc. $GEV

Key Points

• Wellington Management Group LLP increased its holdings in GE Vernova Inc. by 50.9%, acquiring an additional 684,794 shares to own a total of 2,029,948 shares valued at approximately $619.7 million.
• GE Vernova reported a quarterly earnings per share (EPS) of $1.86, exceeding analysts' expectations of $1.63, and reported revenue of $9.11 billion, up 11.1% year-over-year.
• The firm declared a quarterly dividend of $0.25 per share, representing an annualized dividend of $1.00 with a yield of 0.2%.

Wellington Management Group LLP raised its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 50.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,029,948 shares of the company's stock after buying an additional 684,794 shares during the period. Wellington Management Group LLP owned about 0.74% of GE Vernova worth $619,703,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Navigoe LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $27,000. Clarity Asset Management Inc. bought a new stake in shares of GE Vernova in the 4th quarter valued at about $28,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. Orion Capital Management LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $30,000. Finally, EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of analyst reports. Mizuho lowered 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 began coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. The Goldman Sachs Group raised their target price on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company raised their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $560.21.

GE Vernova Trading Up 0.0%

NYSE GEV traded up $0.1210 during trading hours on Friday, hitting $606.1210. 2,724,290 shares of the company's stock were exchanged, compared to its average volume of 2,615,281. The stock has a 50-day simple moving average of $576.57 and a 200 day simple moving average of $441.89. GE Vernova Inc. has a 1-year low of $173.07 and a 1-year high of $677.29. The firm has a market cap of $165.00 billion, a price-to-earnings ratio of 146.05, a PEG ratio of 4.20 and a beta of 1.90.

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 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 return on equity of 13.23% and a net margin of 3.16%.The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate 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 was paid on Monday, August 18th. Shareholders 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 yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

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.