Prudential Financial Inc. Has $196.07 Million Holdings in GE Vernova Inc. $GEV

Prudential Financial Inc. raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 106.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 370,544 shares of the company’s stock after buying an additional 190,791 shares during the period. Prudential Financial Inc. owned about 0.14% of GE Vernova worth $196,073,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Coldstream Capital Management Inc. raised its position in GE Vernova by 13.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 6,519 shares of the company’s stock valued at $3,450,000 after purchasing an additional 761 shares during the last quarter. Sierra Summit Advisors LLC increased its stake in shares of GE Vernova by 18.0% in the second quarter. Sierra Summit Advisors LLC now owns 30,554 shares of the company’s stock valued at $16,168,000 after buying an additional 4,650 shares in the last quarter. Boston Research & Management Inc. bought a new position in shares of GE Vernova in the second quarter valued at about $317,000. J. L. Bainbridge & Co. Inc. acquired a new position in GE Vernova during the 2nd quarter worth about $330,000. Finally, Cynosure Group LLC grew its holdings in GE Vernova by 7.9% during the 2nd quarter. Cynosure Group LLC now owns 13,166 shares of the company’s stock worth $6,967,000 after acquiring an additional 968 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GEV shares. BMO Capital Markets boosted their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. Mizuho reduced their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Cowen reiterated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $654.00 price target on shares of GE Vernova in a research note on Monday, October 27th. Finally, Wells Fargo & Company raised their price target on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $607.81.

Insiders Place Their Bets

In other 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 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 $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 0.4%

NYSE:GEV opened at $555.98 on Friday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The stock’s fifty day simple moving average is $595.52 and its 200-day simple moving average is $563.46. The firm has a market capitalization of $150.85 billion, a P/E ratio of 90.55, a P/E/G ratio of 4.13 and a beta of 1.68.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the company posted ($0.35) EPS. 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, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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