Russell Investments Group Ltd. Purchases 75,386 Shares of GE Vernova Inc. $GEV

Russell Investments Group Ltd. boosted its position in GE Vernova Inc. (NYSE:GEV) by 54.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 214,064 shares of the company’s stock after buying an additional 75,386 shares during the quarter. Russell Investments Group Ltd.’s holdings in GE Vernova were worth $113,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp bought a new position in shares of GE Vernova in the second quarter worth about $29,000. 1248 Management LLC acquired a new stake in GE Vernova in the 1st quarter valued at approximately $31,000. Saudi Central Bank acquired a new stake in GE Vernova in the 1st quarter valued at approximately $33,000. Ransom Advisory Ltd bought a new position in GE Vernova in the 1st quarter worth approximately $33,000. Finally, Highline Wealth Partners LLC lifted its holdings in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after buying an additional 18 shares during the last quarter.

GE Vernova Stock Up 3.1%

NYSE:GEV opened at $590.38 on Thursday. The firm has a market capitalization of $160.18 billion, a PE ratio of 96.15, a price-to-earnings-growth ratio of 4.26 and a beta of 1.68. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm has a 50-day moving average price of $593.13 and a 200 day moving average price of $567.26.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share 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 company 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 posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group set a $710.00 price objective on shares of GE Vernova in a research note on Thursday, October 23rd. Morgan Stanley increased their price target on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets boosted their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Barclays upped their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research report on Wednesday, October 15th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $607.81.

About GE Vernova

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.