Forum Financial Management LP Trims Stake in GE Vernova Inc. $GEV

Forum Financial Management LP reduced its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,176 shares of the company’s stock after selling 100 shares during the period. Forum Financial Management LP’s holdings in GE Vernova were worth $1,681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in GE Vernova by 7.4% during 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of GE Vernova by 21.4% in the 1st 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 in the last quarter. Wellington Management Group LLP increased its holdings in shares of GE Vernova by 50.9% in 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 last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of GE Vernova by 47.4% in 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 last quarter.

GE Vernova Price Performance

Shares of GEV opened at $575.73 on Thursday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a 50-day moving average of $612.65 and a 200 day moving average of $525.17. The firm has a market capitalization of $156.72 billion, a price-to-earnings ratio of 138.73, a PEG ratio of 4.24 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the business earned ($0.35) EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 24.10%.

Insider Activity

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. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GEV shares. BMO Capital Markets lifted their price target on GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Glj Research lifted their price target on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Rothschild & Co Redburn reiterated a “sell” rating and issued a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Robert W. Baird lifted their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Finally, Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $601.44.

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.