Convergence Investment Partners LLC Decreases Stake in GE Vernova Inc. $GEV

Convergence Investment Partners LLC lowered its position in GE Vernova Inc. (NYSE:GEV) by 16.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,358 shares of the company’s stock after selling 470 shares during the quarter. Convergence Investment Partners LLC’s holdings in GE Vernova were worth $1,248,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Sachetta LLC increased its holdings in GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after acquiring an additional 16 shares during the last quarter. Highline Wealth Partners LLC boosted its stake in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after purchasing an additional 18 shares during the period. Atlas Brown Inc. boosted its stake in GE Vernova by 0.8% in the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock worth $1,321,000 after purchasing an additional 19 shares during the period. Princeton Global Asset Management LLC boosted its stake in GE Vernova by 14.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock worth $80,000 after purchasing an additional 19 shares during the period. Finally, Physician Wealth Advisors Inc. boosted its stake in GE Vernova by 9.0% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock worth $128,000 after purchasing an additional 20 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. TD Cowen cut their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday. Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday, October 15th. Barclays raised their target price on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a research note on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $607.59.

GE Vernova Trading Down 1.8%

Shares of GEV opened at $584.68 on Monday. The company has a market cap of $158.64 billion, a PE ratio of 95.23, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72. The stock has a 50-day moving average price of $611.31 and a 200-day moving average price of $532.47. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly 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). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

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.