DekaBank Deutsche Girozentrale Acquires New Shares in GE Vernova Inc. $GEV

DekaBank Deutsche Girozentrale acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 151,508 shares of the company’s stock, valued at approximately $79,857,000.

Several other large investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after buying an additional 892,549 shares in the last quarter. Amundi raised its position in GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after acquiring an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. raised its position in GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of GE Vernova in the first quarter valued at approximately $223,556,000.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was 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 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 this link. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GEV has been the subject of several research reports. Rothschild Redb downgraded GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Jefferies Financial Group boosted their price target on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Morgan Stanley upped their price objective on GE Vernova from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Citigroup lifted their price objective on GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $601.44.

GE Vernova Stock Down 1.5%

NYSE:GEV opened at $585.12 on Wednesday. The company has a market cap of $159.28 billion, a P/E ratio of 140.99, a P/E/G ratio of 4.30 and a beta of 1.72. The firm’s 50 day moving average is $613.83 and its two-hundred day moving average is $524.82. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the company posted $4.65 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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 (DPR) is 24.10%.

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.