Rockefeller Capital Management L.P. Decreases Stock Holdings in GE Vernova Inc. $GEV

Rockefeller Capital Management L.P. lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 241,143 shares of the company’s stock after selling 12,947 shares during the period. Rockefeller Capital Management L.P. owned about 0.09% of GE Vernova worth $127,602,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in GE Vernova by 29.4% in the fourth 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 period. Victory Capital Management Inc. lifted its position in GE Vernova by 55.5% during the 1st quarter. Victory Capital Management Inc. now owns 145,392 shares of the company’s stock worth $44,385,000 after acquiring an additional 51,913 shares in the last quarter. Bailard Inc. purchased a new position in GE Vernova in the 1st quarter worth approximately $339,000. Kingsview Wealth Management LLC grew its position in GE Vernova by 7.5% in the first quarter. Kingsview Wealth Management LLC now owns 8,064 shares of the company’s stock valued at $2,462,000 after acquiring an additional 562 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in shares of GE Vernova by 5.3% during the first quarter. Jennison Associates LLC now owns 38,260 shares of the company’s stock valued at $11,680,000 after purchasing an additional 1,933 shares during the period.

Analysts Set New Price Targets

Several research firms recently issued reports on GEV. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Susquehanna lifted their target price on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Citigroup reduced their price target on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Morgan Stanley upped their target price 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 MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $607.81.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by corporate insiders.

GE Vernova Stock Performance

GE Vernova stock opened at $577.64 on Friday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The company has a 50-day simple moving average of $600.86 and a 200-day simple moving average of $557.24. The firm has a market capitalization of $156.72 billion, a P/E ratio of 94.08, a P/E/G ratio of 4.30 and a beta of 1.68.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (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 analyst estimates of $9.15 billion. During the same period in the previous year, the firm earned ($0.35) earnings per share. 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. As a group, sell-side 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 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. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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.