GE Vernova Inc. $GEV Stake Raised by Truist Financial Corp

Truist Financial Corp raised its holdings in GE Vernova Inc. (NYSE:GEV) by 6.0% in the second quarter, Holdings Channel.com reports. The fund owned 78,589 shares of the company’s stock after acquiring an additional 4,418 shares during the period. Truist Financial Corp’s holdings in GE Vernova were worth $41,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Amundi lifted its position in shares of GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after acquiring an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after acquiring an additional 799,388 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of GE Vernova in the 1st quarter worth $223,556,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GEV shares. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the stock a “sector perform” rating in a report on Wednesday. Jefferies Financial Group raised their target price on shares of GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a report on Friday, September 12th. HSBC lifted their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Finally, Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a “buy” rating for the company. 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 company. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Price Performance

Shares of GEV opened at $606.80 on Friday. The business’s 50-day moving average is $624.20 and its 200-day moving average is $496.99. The company has a market capitalization of $165.18 billion, a price-to-earnings ratio of 146.22, a P/E/G ratio of 4.42 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $250.89 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued 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 is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction 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 trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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.