American Century Companies Inc. Increases Stake in GE Vernova Inc. $GEV

American Century Companies Inc. lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 99.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 660,377 shares of the company’s stock after purchasing an additional 329,245 shares during the period. American Century Companies Inc. owned about 0.24% of GE Vernova worth $349,439,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of GEV. Vanguard Group Inc. lifted its position in GE Vernova by 1.1% in the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after purchasing an additional 271,958 shares during the last quarter. Geode Capital Management LLC increased its position in shares of GE Vernova by 2.2% during the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after buying an additional 129,315 shares during the period. Goldman Sachs Group Inc. raised its stake 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 worth $955,513,000 after buying an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 acquiring an additional 367,150 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake 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 valued at $619,703,000 after purchasing an additional 684,794 shares during the period.

Insider Buying and Selling

In other GE Vernova 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 completion of the sale, the chief financial officer directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Rothschild & Co Redburn reiterated a “sell” rating and set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. HSBC upped their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Susquehanna upped their price target on GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Finally, Barclays boosted their target price on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Trading Down 0.4%

Shares of GE Vernova stock opened at $555.98 on Friday. The firm has a market cap of $150.85 billion, a PE ratio of 90.55, a PEG ratio of 4.13 and a beta of 1.68. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The stock has a 50 day moving average of $595.52 and a 200 day moving average of $563.46.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is presently 16.29%.

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.