Prudential Financial Inc. Has $196.07 Million Stock Holdings in GE Vernova Inc. $GEV

Prudential Financial Inc. increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 106.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 370,544 shares of the company’s stock after purchasing an additional 190,791 shares during the quarter. Prudential Financial Inc.’s holdings in GE Vernova were worth $196,073,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of GE Vernova by 1.1% during the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after acquiring an additional 271,958 shares during the period. Geode Capital Management LLC increased its holdings in GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after purchasing an additional 129,315 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after purchasing an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of GE Vernova by 21.4% during the first 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 buying an additional 367,150 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after buying an additional 684,794 shares during the period.

GE Vernova Price Performance

GE Vernova stock opened at $555.98 on Friday. The company’s 50-day moving average is $595.52 and its 200-day moving average is $563.46. The firm has a market capitalization of $150.85 billion, a PE ratio of 90.55, a P/E/G ratio of 4.13 and a beta of 1.68. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for 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 company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were 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 was Monday, October 20th. GE Vernova’s dividend payout ratio is 16.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Royal Bank Of Canada boosted their target price on GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. UBS Group set a $710.00 target price on shares of GE Vernova in a report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. HSBC boosted their price target 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, JPMorgan Chase & Co. raised their price objective on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $607.81.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on 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 completion of the transaction, the chief financial officer directly 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 document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

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.