Massachusetts Financial Services Co. MA Buys 59,001 Shares of GE Vernova Inc. $GEV

Massachusetts Financial Services Co. MA grew its position in GE Vernova Inc. (NYSE:GEV) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,996,019 shares of the company’s stock after acquiring an additional 59,001 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.73% of GE Vernova worth $1,056,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sachetta LLC raised its position in shares of GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after buying an additional 16 shares in the last quarter. Good Life Advisors LLC increased its stake in GE Vernova by 1.0% during the second quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after acquiring an additional 16 shares during the last quarter. AMG National Trust Bank raised its position in GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after purchasing an additional 17 shares during the period. Highline Wealth Partners LLC lifted its stake in shares of GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares during the last quarter. Finally, Advisors Capital Management LLC boosted its holdings in shares of GE Vernova by 0.5% in the 2nd quarter. Advisors Capital Management LLC now owns 3,875 shares of the company’s stock worth $2,051,000 after purchasing an additional 18 shares during the period.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Stock Up 3.5%

Shares of NYSE:GEV opened at $577.64 on Friday. The firm has a 50 day moving average of $600.86 and a 200 day moving average of $555.94. The company has a market capitalization of $156.72 billion, a price-to-earnings ratio of 94.08, a price-to-earnings-growth ratio of 4.15 and a beta of 1.68. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

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

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. HSBC increased their price objective 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. Citigroup cut their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Rothschild Redb cut GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, UBS Group set a $710.00 target price on GE Vernova in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

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.