Addison Capital Co Sells 771 Shares of GE Vernova Inc. $GEV

Addison Capital Co lowered its stake in GE Vernova Inc. (NYSE:GEV) by 44.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 976 shares of the company’s stock after selling 771 shares during the quarter. Addison Capital Co’s holdings in GE Vernova were worth $298,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after acquiring an additional 214,483 shares during the period. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after purchasing an additional 2,135,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after purchasing an additional 367,150 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after purchasing an additional 684,794 shares during the last quarter.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research reports. Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Susquehanna boosted their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, The Goldman Sachs Group upped their price target on GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average target price of $573.75.

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 transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

GE Vernova Stock Up 6.1%

Shares of GE Vernova stock opened at $642.78 on Thursday. The stock’s 50-day simple moving average is $604.12 and its 200-day simple moving average is $462.85. GE Vernova Inc. has a 52 week low of $199.65 and a 52 week high of $677.29. The company has a market capitalization of $174.98 billion, a price-to-earnings ratio of 154.89, a PEG ratio of 4.19 and a beta of 1.87.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 13.23% and a net margin of 3.16%.The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 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.