1,011 Shares in GE Vernova Inc. $GEV Purchased by Consolidated Portfolio Review Corp

Key Points

• Consolidated Portfolio Review Corp acquired 1,011 shares of GE Vernova Inc. valued at approximately $535,000 in the second quarter, as revealed in their 13F filing with the SEC.
• Multiple hedge funds have significantly increased their holdings in GE Vernova, with Assenagon Asset Management raising its stake by 10,044.9% in the second quarter.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, which will be paid on November 17th, with a dividend yield of 0.2%.

Consolidated Portfolio Review Corp purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,011 shares of the company's stock, valued at approximately $535,000.

Several other hedge funds have also recently modified their holdings of GEV. AQR Capital Management LLC raised its holdings in GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after acquiring an additional 892,549 shares during the last quarter. Amundi raised its holdings in GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after acquiring an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock valued at $445,773,000 after acquiring an additional 834,129 shares during the last quarter. TD Asset Management Inc raised its holdings in GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after acquiring an additional 799,388 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in GE Vernova in the 1st quarter valued at about $223,556,000.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

GE Vernova Stock Down 1.3%

Shares of GEV stock opened at $606.97 on Thursday. GE Vernova Inc. has a 52 week low of $248.50 and a 52 week high of $677.29. The stock has a market capitalization of $165.23 billion, a PE ratio of 146.26, a P/E/G ratio of 4.48 and a beta of 1.74. The firm has a 50 day moving average of $624.54 and a two-hundred day moving average of $495.09.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the business earned $4.65 EPS. The company's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Wall Street Analyst Weigh In

A number of research firms have commented on GEV. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Wells Fargo & Company raised their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Bank of America raised their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target for the company in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $598.50.

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.

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