Blue Trust Inc. raised its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,193 shares of the company’s stock after acquiring an additional 76 shares during the quarter. Blue Trust Inc.’s holdings in GE Vernova were worth $1,161,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after purchasing an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Wellington Management Group LLP lifted its stake in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after purchasing an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares during the last quarter.
GE Vernova Price Performance
GEV opened at $606.30 on Friday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The stock has a market cap of $165.05 billion, a P/E ratio of 146.10, a P/E/G ratio of 4.61 and a beta of 1.72. The stock’s 50 day moving average price is $619.64 and its 200 day moving average price is $508.47.
GE Vernova Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given 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 is Monday, October 20th. GE Vernova’s payout ratio is 24.10%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Barclays increased 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. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a report on Wednesday. Finally, Royal Bank Of Canada set a $605.00 target price on GE Vernova and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $598.50.
Read Our Latest Analysis on GE Vernova
Insider Activity at GE Vernova
In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.
Featured Articles
- Five stocks we like better than GE Vernova
- Earnings Per Share Calculator: How to Calculate EPS
- 3 Heavily Shorted Stocks That Could Pop on Rate Cuts
- ETF Screener: Uses and Step-by-Step Guide
- Broadcom Gets Second $420 Target as CPO Win Boosts Outlook
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- PepsiCo’s Deep Discount Will Soon Evaporate: Buy It While You Can
Receive News & Ratings for GE Vernova Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GE Vernova and related companies with MarketBeat.com's FREE daily email newsletter.