Appian Way Asset Management LP Invests $1.22 Million in GE Vernova Inc. $GEV

Key Points

• Appian Way Asset Management LP purchased 4,000 shares of GE Vernova Inc. for approximately $1.22 million, making it 0.3% of their portfolio.
• GE Vernova reported earnings of $1.86 per share, surpassing expectations, with a revenue of $9.11 billion, which is an 11.1% increase from the previous year.
• The company announced a quarterly dividend of $0.25, with an annualized yield of 0.2%, and has a payout ratio of 24.10% as of the latest disclosure.

Appian Way Asset Management LP acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,000 shares of the company's stock, valued at approximately $1,221,000. GE Vernova makes up about 0.3% of Appian Way Asset Management LP's holdings, making the stock its 22nd largest holding.

Other large investors have also recently made changes to their positions in the company. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the first quarter valued at $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova in the first quarter valued at $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova in the fourth quarter valued at $28,000. Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares during the last quarter.

GE Vernova Price Performance

Shares of GEV traded down $2.88 during trading hours on Wednesday, hitting $576.80. The company's stock had a trading volume of 3,656,074 shares, compared to its average volume of 2,284,373. The company has a market cap of $157.02 billion, a price-to-earnings ratio of 138.99, a PEG ratio of 4.24 and a beta of 1.87. The business has a 50 day simple moving average of $594.87 and a two-hundred day simple moving average of $454.39. GE Vernova Inc. has a 52-week low of $192.12 and a 52-week high of $677.29.

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

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's payout ratio is presently 24.10%.

Analyst Upgrades and Downgrades

GEV has been the subject of several analyst reports. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. BMO Capital Markets increased their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. TD Cowen increased their target price on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Glj Research initiated coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

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.