Aviva PLC Increases Position in GE Vernova Inc. $GEV

Aviva PLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 205,086 shares of the company’s stock after acquiring an additional 12,790 shares during the period. Aviva PLC’s holdings in GE Vernova were worth $108,521,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares in the last quarter. Brown Advisory Inc. increased its position in GE Vernova by 1.7% during the first quarter. Brown Advisory Inc. now owns 34,677 shares of the company’s stock worth $10,586,000 after buying an additional 574 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of GE Vernova by 43.9% in the first quarter. Rehmann Capital Advisory Group now owns 1,363 shares of the company’s stock worth $416,000 after acquiring an additional 416 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in shares of GE Vernova by 39.2% in the first quarter. Axxcess Wealth Management LLC now owns 5,619 shares of the company’s stock valued at $1,715,000 after acquiring an additional 1,583 shares in the last quarter. Finally, Leavell Investment Management Inc. boosted its stake in shares of GE Vernova by 8.6% during the first quarter. Leavell Investment Management Inc. now owns 6,892 shares of the company’s stock valued at $2,104,000 after acquiring an additional 545 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of several analyst reports. HSBC boosted their target price on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Morgan Stanley boosted their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Royal Bank Of Canada raised their target price on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Melius Research set a $740.00 price target on GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Stock Up 4.6%

GEV opened at $575.61 on Friday. The company has a 50 day moving average of $602.58 and a two-hundred day moving average of $548.30. The company has a market cap of $156.18 billion, a P/E ratio of 93.75, a P/E/G ratio of 4.09 and a beta of 1.68. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the business earned ($0.35) EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s payout ratio is 16.29%.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction 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 sale, the chief financial officer directly 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

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.