Harbor Capital Advisors Inc. Lowers Position in GE Vernova Inc. $GEV

Harbor Capital Advisors Inc. trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,136 shares of the company’s stock after selling 24 shares during the period. Harbor Capital Advisors Inc.’s holdings in GE Vernova were worth $2,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position 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 in 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 buying an additional 214,483 shares in the last quarter. GAMMA Investing LLC lifted its position in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock valued at $653,769,000 after buying an additional 2,135,066 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after buying an additional 367,150 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after buying an additional 684,794 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on GEV shares. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Citigroup boosted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Mizuho cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price on the stock. in a research report on Monday, July 28th. Bank of America boosted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $592.35.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $614.69 on Thursday. The stock has a market capitalization of $167.33 billion, a price-to-earnings ratio of 148.12, a price-to-earnings-growth ratio of 4.50 and a beta of 1.87. GE Vernova Inc. has a 1-year low of $234.00 and a 1-year high of $677.29. The company’s fifty day moving average is $613.95 and its two-hundred day moving average is $473.14.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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.