GE Vernova Inc. $GEV Stock Position Trimmed by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its position in GE Vernova Inc. (NYSE:GEV) by 59.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,857 shares of the company’s stock after selling 34,032 shares during the period. Mediolanum International Funds Ltd’s holdings in GE Vernova were worth $11,878,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the first quarter valued at about $27,000. WFA Asset Management Corp acquired a new stake in shares of GE Vernova in the 2nd quarter worth approximately $29,000. 1248 Management LLC bought a new position in shares of GE Vernova in the first quarter valued at approximately $31,000. Saudi Central Bank bought a new stake in GE Vernova during the first quarter worth approximately $33,000. Finally, Ransom Advisory Ltd acquired a new stake in GE Vernova in the first quarter worth approximately $33,000.

GE Vernova Stock Down 0.4%

GEV opened at $555.98 on Friday. The firm has a market capitalization of $150.85 billion, a P/E ratio of 90.55, a PEG ratio of 4.15 and a beta of 1.68. The stock has a fifty day moving average of $595.52 and a 200-day moving average of $562.34. 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 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 company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the business earned ($0.35) EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have commented on GEV shares. Cowen reiterated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Glj Research raised their target price on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research report on Monday, September 15th. JPMorgan Chase & Co. raised their price objective on GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, Redburn Partners set a $475.00 target price on GE Vernova in a report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $607.81.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by corporate insiders.

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.