Korea Investment CORP Sells 29,705 Shares of GE Vernova Inc. $GEV

Korea Investment CORP lessened its position in GE Vernova Inc. (NYSE:GEV) by 10.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 255,875 shares of the company’s stock after selling 29,705 shares during the quarter. Korea Investment CORP owned 0.09% of GE Vernova worth $135,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Atika Capital Management LLC increased its stake in GE Vernova by 13.6% in the second quarter. Atika Capital Management LLC now owns 42,550 shares of the company’s stock worth $22,515,000 after purchasing an additional 5,100 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in GE Vernova in the 2nd quarter worth about $317,000. Mayfair Advisory Group LLC bought a new stake in GE Vernova during the 2nd quarter valued at about $186,000. Elevation Point Wealth Partners LLC purchased a new stake in GE Vernova in the 2nd quarter valued at about $147,000. Finally, Baltimore Washington Financial Advisors Inc. bought a new position in GE Vernova in the 2nd quarter worth about $420,000.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Rothschild Redb lowered GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Wells Fargo & Company increased their price target on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $654.00 target price on shares of GE Vernova in a research report on Monday, October 27th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Stock Up 3.1%

GEV opened at $590.38 on Thursday. The company has a market cap of $160.18 billion, a P/E ratio of 96.15, a price-to-earnings-growth ratio of 4.26 and a beta of 1.68. The firm’s 50-day moving average price is $593.13 and its 200-day moving average price is $567.26. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week 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 analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the business earned ($0.35) earnings per share. The firm’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, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

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.