The Manufacturers Life Insurance Company Sells 7,682 Shares of GE Vernova Inc. $GEV

The Manufacturers Life Insurance Company cut its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 191,166 shares of the company's stock after selling 7,682 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of GE Vernova worth $58,359,000 as of its most recent SEC filing.

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Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after acquiring an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in 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 during the period. GAMMA Investing LLC raised its position in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after purchasing an additional 2,135,066 shares during the last quarter. Wellington Management Group LLP lifted its holdings in GE Vernova by 50.9% during the 1st 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. Finally, Massachusetts Financial Services Co. MA lifted its holdings in GE Vernova by 47.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after buying an additional 622,730 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Morgan Stanley increased their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Citigroup upped their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group lifted their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

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Read Our Latest Research Report on GE Vernova

GE Vernova Price Performance

Shares of GE Vernova stock opened at $614.60 on Friday. The business has a 50-day simple moving average of $589.73 and a 200 day simple moving average of $450.37. GE Vernova Inc. has a one year low of $185.35 and a one year high of $677.29. The firm has a market capitalization of $167.31 billion, a price-to-earnings ratio of 148.10, a PEG ratio of 4.24 and a beta of 1.90.

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GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the business posted $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were issued 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 was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 24.10%.

Insiders Place Their Bets

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 value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

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.

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