Waverton Investment Management Ltd Sells 20,500 Shares of GE Vernova Inc. $GEV

Waverton Investment Management Ltd lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 478,452 shares of the company’s stock after selling 20,500 shares during the period. GE Vernova comprises approximately 3.5% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 13th biggest holding. Waverton Investment Management Ltd’s holdings in GE Vernova were worth $253,094,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GEV. IMA Advisory Services Inc. bought a new position in GE Vernova during the first quarter valued at about $27,000. WFA Asset Management Corp bought a new position in GE Vernova during the second quarter worth about $29,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC bought a new stake in shares of GE Vernova in the first quarter valued at approximately $31,000. Finally, Saudi Central Bank purchased a new stake in shares of GE Vernova during the 1st quarter valued at approximately $33,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GEV shares. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. HSBC upped their price target on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. BMO Capital Markets upped their price target on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Finally, Morgan Stanley upped their price target on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Trading Up 2.2%

GEV stock opened at $559.87 on Thursday. The firm has a 50 day moving average of $605.04 and a 200-day moving average of $546.45. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The firm has a market capitalization of $151.90 billion, a P/E ratio of 91.18, a price-to-earnings-growth ratio of 4.08 and a beta of 1.68.

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

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Insiders Place Their Bets

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 value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

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.