GE Vernova Inc. $GEV Shares Purchased by US Bancorp DE

US Bancorp DE increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,379 shares of the company’s stock after purchasing an additional 1,927 shares during the period. US Bancorp DE’s holdings in GE Vernova were worth $52,057,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased its position in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after purchasing an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Wellington Management Group LLP increased its position in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after purchasing an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock valued at $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

Shares of GEV stock opened at $634.08 on Friday. The stock has a market capitalization of $172.61 billion, a P/E ratio of 152.79, a price-to-earnings-growth ratio of 4.55 and a beta of 1.72. The company has a 50 day moving average price of $620.64 and a 200 day moving average price of $506.61. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a research report on Monday, September 15th. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Mizuho cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price target for the company. in a research report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $598.50.

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.