Geode Capital Management LLC Acquires 129,315 Shares of GE Vernova Inc. $GEV

Geode Capital Management LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 2.2% in the second quarter, Holdings Channel reports. The fund owned 6,108,484 shares of the company’s stock after purchasing an additional 129,315 shares during the quarter. Geode Capital Management LLC’s holdings in GE Vernova were worth $3,221,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Stephens Inc. AR increased its holdings in shares of GE Vernova by 7.6% during the first quarter. Stephens Inc. AR now owns 7,490 shares of the company’s stock worth $2,286,000 after buying an additional 526 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in shares of GE Vernova by 8.0% in the 1st quarter. Bleakley Financial Group LLC now owns 10,773 shares of the company’s stock valued at $3,289,000 after acquiring an additional 794 shares during the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of GE Vernova by 7.0% during the 1st quarter. Catalyst Financial Partners LLC now owns 1,545 shares of the company’s stock valued at $472,000 after acquiring an additional 101 shares in the last quarter. Finally, Sigma Planning Corp grew its position in GE Vernova by 161.8% during the 1st quarter. Sigma Planning Corp now owns 11,105 shares of the company’s stock worth $3,390,000 after acquiring an additional 6,864 shares during the last quarter.

GE Vernova Trading Down 0.8%

GEV stock opened at $575.37 on Wednesday. The firm has a market cap of $156.11 billion, a PE ratio of 93.71, a price-to-earnings-growth ratio of 4.31 and a beta of 1.68. The stock has a 50-day moving average price of $601.80 and a 200-day moving average price of $554.33. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29.

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

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on GEV. JPMorgan Chase & Co. boosted their price target on GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Rothschild & Co Redburn restated a “sell” rating and issued a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. Finally, Morgan Stanley upped their price target on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova 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.