BOCHK Asset Management Ltd Sells 29,250 Shares of GE Vernova Inc. $GEV

BOCHK Asset Management Ltd lowered its position in GE Vernova Inc. (NYSE:GEV) by 95.9% in the second quarter, HoldingsChannel.com reports. The fund owned 1,250 shares of the company’s stock after selling 29,250 shares during the quarter. GE Vernova comprises 0.2% of BOCHK Asset Management Ltd’s portfolio, making the stock its 17th biggest position. BOCHK Asset Management Ltd’s holdings in GE Vernova were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of GE Vernova in the first quarter valued at approximately $912,000. Pines Wealth Management LLC bought a new position in GE Vernova in the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. raised its position in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after purchasing an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new position in GE Vernova in the 1st quarter worth approximately $458,000. Finally, Golden State Wealth Management LLC raised its position in GE Vernova by 201.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after purchasing an additional 817 shares during the last quarter.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction 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 of the company’s stock, 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 is available at this hyperlink. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on GEV shares. Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the stock a “sector perform” rating in a research report on Wednesday. Citigroup boosted their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. UBS Group began coverage on shares of GE Vernova in a research report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective for the company. Finally, Barclays lifted their target price on shares of GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $598.50.

GE Vernova Stock Performance

GEV opened at $606.97 on Thursday. The company has a fifty day moving average price of $624.54 and a two-hundred day moving average price of $495.09. GE Vernova Inc. has a 52 week low of $248.50 and a 52 week high of $677.29. The firm has a market capitalization of $165.23 billion, a PE ratio of 146.26, a P/E/G ratio of 4.48 and a beta of 1.74.

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

GE Vernova Dividend Announcement

The company also recently declared 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 of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

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.