Reliant Investment Partners LLC Buys New Holdings in GE Vernova Inc. $GEV

Reliant Investment Partners LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 510 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after buying an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in GE Vernova by 21.4% in the 1st 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 acquiring an additional 367,150 shares during the last quarter. Wellington Management Group LLP grew its holdings in GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock valued at $591,333,000 after acquiring an additional 622,730 shares during the period.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group set a $710.00 target price on shares of GE Vernova in a report on Thursday. Citigroup dropped their price objective on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research report on Monday, September 15th. Cowen restated a “buy” rating on shares of GE Vernova in a report on Thursday. Finally, BMO Capital Markets lifted their price target on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $607.07.

GE Vernova Stock Up 0.0%

GEV opened at $584.50 on Tuesday. The stock has a market cap of $158.59 billion, a PE ratio of 95.20, a PEG ratio of 4.22 and a beta of 1.72. The business has a 50 day moving average of $610.51 and a 200-day moving average of $534.28. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period 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 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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.