Amalgamated Bank Raises Stock Position in GE Vernova Inc. $GEV

Amalgamated Bank boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 15.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 62,493 shares of the company’s stock after purchasing an additional 8,174 shares during the period. Amalgamated Bank’s holdings in GE Vernova were worth $33,068,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after acquiring an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after purchasing an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Wellington Management Group LLP lifted its position in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after purchasing an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock valued at $591,333,000 after purchasing an additional 622,730 shares during the last quarter.

GE Vernova Stock Up 1.1%

NYSE:GEV opened at $577.44 on Thursday. The company has a fifty day moving average of $609.33 and a 200 day moving average of $537.88. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a market capitalization of $156.67 billion, a P/E ratio of 94.05, a P/E/G ratio of 4.12 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is presently 16.29%.

Analyst Upgrades and Downgrades

GEV has been the subject of several research analyst reports. Rothschild & Co Redburn reiterated a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research report on Wednesday, October 15th. Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Robert W. Baird boosted their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Citigroup lowered their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Finally, Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $607.07.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

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.