GE Vernova Inc. $GEV Stock Holdings Reduced by Front Street Capital Management Inc.

by · The Markets Daily

Front Street Capital Management Inc. decreased its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,299 shares of the company’s stock after selling 5,146 shares during the period. GE Vernova comprises approximately 3.4% of Front Street Capital Management Inc.’s portfolio, making the stock its 10th biggest holding. Front Street Capital Management Inc.’s holdings in GE Vernova were worth $17,798,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings 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 valued at $653,769,000 after acquiring an additional 2,135,066 shares during the period. AQR Capital Management LLC raised its holdings in GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares during the period. Amundi raised its holdings in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after acquiring an additional 868,927 shares during the period. TD Asset Management Inc raised its holdings in GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after acquiring an additional 799,388 shares during the period. Finally, Nuveen LLC bought a new stake in GE Vernova during the 1st quarter valued at $223,556,000.

GE Vernova Stock Down 2.8%

GEV opened at $581.92 on Friday. The business’s fifty day simple moving average is $597.95 and its 200 day simple moving average is $458.00. GE Vernova Inc. has a 52 week low of $193.38 and a 52 week high of $677.29. The stock has a market cap of $158.41 billion, a PE ratio of 140.22, a P/E/G ratio of 4.02 and a beta of 1.87.

GE Vernova (NYSE:GEV – Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the business posted $4.65 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was 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 in the company, valued at $4,705,800. This trade 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 at this hyperlink. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GEV shares. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They set a “buy” rating and a $614.00 target price on the stock. Jefferies Financial Group cut shares of GE Vernova from a “buy” rating to a “hold” rating and boosted their target price for the company from $427.00 to $517.00 in a report on Thursday, May 29th. Morgan Stanley boosted their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Citigroup boosted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Barclays boosted their target price on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $573.75.

Get Our Latest Stock Report on GE Vernova

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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