Shell Asset Management Co. Has $3.65 Million Holdings in GE Vernova Inc. $GEV

Shell Asset Management Co. raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 118.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,894 shares of the company’s stock after purchasing an additional 3,743 shares during the period. Shell Asset Management Co.’s holdings in GE Vernova were worth $3,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC acquired a new position in GE Vernova during the 1st quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova in the 1st quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 53 shares during the period. 1248 Management LLC acquired a new stake in shares of GE Vernova in the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank acquired a new stake in shares of GE Vernova in the 1st quarter valued at approximately $33,000.

Analysts Set New Price Targets

A number of analysts recently weighed in on GEV shares. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research report on Saturday, September 27th. Citigroup increased 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. Susquehanna increased their target price on GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Mizuho downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price on the stock. in a report on Monday, July 28th. Finally, BMO Capital Markets raised their target price on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Stock Up 0.5%

Shares of GEV opened at $606.24 on Wednesday. The stock has a market capitalization of $165.03 billion, a P/E ratio of 146.08, a P/E/G ratio of 4.39 and a beta of 1.72. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a 50 day moving average of $621.76 and a 200-day moving average of $503.77.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The company 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% on a year-over-year basis. During the same period last year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend 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 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

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.