Bank of Montreal Can Decreases Position in GE Vernova Inc. $GEV

Bank of Montreal Can cut its position in GE Vernova Inc. (NYSE:GEV) by 1.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 341,553 shares of the company’s stock after selling 6,306 shares during the period. Bank of Montreal Can owned approximately 0.13% of GE Vernova worth $180,733,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GEV. AQR Capital Management LLC raised its holdings in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after buying an additional 892,549 shares during the last quarter. Amundi raised its holdings in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in GE Vernova by 10,044.9% in the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after buying an additional 834,129 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after purchasing an additional 799,388 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of GE Vernova during the first quarter valued at approximately $223,556,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on GEV. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Barclays boosted their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a report on Wednesday, October 15th. Finally, TD Cowen decreased their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’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 value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

GE Vernova Price Performance

GEV opened at $583.13 on Tuesday. The firm has a market cap of $158.22 billion, a P/E ratio of 94.97, a PEG ratio of 4.35 and a beta of 1.69. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a 50 day simple moving average of $607.92 and a two-hundred day simple moving average of $544.77.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company 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 $0.25 dividend. 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 dividend payout ratio is presently 16.29%.

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.