GE Vernova Inc. $GEV Shares Sold by Auto Owners Insurance Co

Auto Owners Insurance Co lessened its position in GE Vernova Inc. (NYSE:GEV) by 75.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,383 shares of the company’s stock after selling 94,278 shares during the quarter. Auto Owners Insurance Co’s holdings in GE Vernova were worth $19,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. grew its position in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the 3rd quarter worth $25,000. Bay Harbor Wealth Management LLC increased its position in shares of GE Vernova by 537.5% during the third quarter. Bay Harbor Wealth Management LLC now owns 51 shares of the company’s stock worth $31,000 after purchasing an additional 43 shares in the last quarter. Elevation Wealth Partners LLC raised its position in GE Vernova by 47.2% in the 3rd quarter. Elevation Wealth Partners LLC now owns 53 shares of the company’s stock valued at $33,000 after purchasing an additional 17 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of GE Vernova by 112.0% in the third quarter. Deseret Mutual Benefit Administrators now owns 53 shares of the company’s stock valued at $33,000 after buying an additional 28 shares during the last quarter.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $843.39 on Wednesday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $894.93. The firm has a market cap of $227.32 billion, a price-to-earnings ratio of 47.38, a P/E/G ratio of 3.29 and a beta of 1.44. The business’s 50-day simple moving average is $765.97 and its 200-day simple moving average is $667.09.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 28th. The company reported $13.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $10.40. The business had revenue of $10.96 billion during the quarter, compared to analysts’ expectations of $10.21 billion. GE Vernova had a net margin of 12.83% and a return on equity of 46.91%. GE Vernova’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.73 earnings per share. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Tuesday, March 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 17th. GE Vernova’s payout ratio is currently 11.24%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GEV shares. Citigroup increased their price target on GE Vernova from $708.00 to $779.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. BMO Capital Markets restated an “outperform” rating and issued a $785.00 price target on shares of GE Vernova in a report on Thursday, January 29th. Evercore lifted their target price on shares of GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Mizuho set a $714.00 price target on GE Vernova in a report on Tuesday, February 3rd. Finally, Wall Street Zen raised shares of GE Vernova from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $831.29.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.