GE Vernova Inc. $GEV Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its stake in GE Vernova Inc. (NYSE:GEV) by 17.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,028,514 shares of the company’s stock after selling 216,906 shares during the period. GE Vernova makes up 0.4% of AQR Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. AQR Capital Management LLC owned about 0.38% of GE Vernova worth $541,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Connecticut Wealth Management LLC increased its stake in GE Vernova by 8.3% in the second quarter. Connecticut Wealth Management LLC now owns 2,341 shares of the company’s stock valued at $1,239,000 after purchasing an additional 179 shares during the period. Florida Financial Advisors LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $759,000. Clough Capital Partners L P purchased a new stake in shares of GE Vernova during the 2nd quarter worth $14,493,000. Graney & King LLC boosted its holdings in GE Vernova by 2.4% during the second quarter. Graney & King LLC now owns 722 shares of the company’s stock worth $382,000 after buying an additional 17 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of GE Vernova by 15.9% in the 2nd quarter. California State Teachers Retirement System now owns 434,392 shares of the company’s stock worth $229,859,000 after acquiring an additional 59,612 shares during the period.

Wall Street Analysts Forecast Growth

GEV has been the topic of several recent research reports. TD Cowen reduced their price target 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. Glj Research upped their price objective on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $654.00 target price on shares of GE Vernova in a research report on Monday, October 27th. HSBC boosted their price objective 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. Finally, Cowen reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, seven have assigned a Hold rating and two have issued 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 $654.54.

GE Vernova Stock Down 4.5%

GEV opened at $672.32 on Friday. The firm has a market cap of $182.41 billion, a price-to-earnings ratio of 109.50, a price-to-earnings-growth ratio of 5.28 and a beta of 1.71. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $731.00. The company’s 50-day moving average price is $597.06 and its 200 day moving average price is $582.05.

GE Vernova (NYSE:GEV) last released 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 return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the business earned ($0.35) EPS. The firm’s revenue was up 11.8% on a year-over-year basis. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 5th will be given a dividend of $0.50 per share. This is a boost from GE Vernova’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, January 5th. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. GE Vernova’s payout ratio is 32.57%.

About GE Vernova

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.