Plato Investment Management Ltd Has $5.02 Million Stake in GE Vernova Inc. $GEV

by · The Cerbat Gem

Plato Investment Management Ltd trimmed its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 2.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,525 shares of the company’s stock after selling 238 shares during the period. Plato Investment Management Ltd’s holdings in GE Vernova were worth $5,022,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. IMA Advisory Services Inc. acquired a new position in GE Vernova during the first quarter worth $27,000. WFA Asset Management Corp acquired a new position in shares of GE Vernova in the second quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC acquired a new position in shares of GE Vernova in the first quarter valued at $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova in the first quarter valued at $33,000.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’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 completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents 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 the SEC website. 0.15% of the stock is owned by corporate insiders.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $584.82 on Friday. The firm has a 50-day moving average of $608.29 and a 200-day moving average of $541.44. The stock has a market cap of $158.67 billion, a PE ratio of 95.25, a PEG ratio of 4.34 and a beta of 1.72. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV – Get Free Report) last announced its 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 business had revenue of $9.97 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 16.29%.

Wall Street Analyst Weigh In

GEV has been the topic of several research reports. Morgan Stanley upped their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a report on Monday, September 15th. Susquehanna upped their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Citigroup decreased their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Finally, TD Cowen decreased their price objective on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Four research 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 given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

View Our Latest Stock Report on GEV

About GE Vernova

(Free Report)

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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