Sunpointe LLC Invests $275,000 in GE Vernova Inc. $GEV

Key Points

• Sunpointe LLC acquired 519 shares of GE Vernova Inc. for approximately $275,000, indicating investment interest from institutional investors.
• GE Vernova recently declared a quarterly dividend of $0.25 per share, representing a 0.2% dividend yield and a payout ratio of 24.10%.
• The company's latest earnings report showed $1.86 earnings per share, surpassing analysts' expectations and reflecting a year-over-year revenue increase of 11.1%.

Sunpointe LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 519 shares of the company's stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after acquiring an additional 432,830 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after buying an additional 214,483 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in GE Vernova by 21.4% in the 1st 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 purchasing an additional 367,150 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after purchasing an additional 684,794 shares during the last quarter.

GE Vernova Stock Up 2.2%

Shares of GEV stock traded up $13.61 during trading hours on Friday, hitting $624.61. 4,104,917 shares of the company were exchanged, compared to its average volume of 3,488,367. The firm has a market cap of $170.03 billion, a PE ratio of 150.51, a PEG ratio of 4.48 and a beta of 1.87. GE Vernova Inc. has a 1 year low of $242.25 and a 1 year high of $677.29. The firm has a fifty day moving average of $615.40 and a 200 day moving average of $475.18.

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, topping the consensus estimate 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 in the prior year, the firm posted $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 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 24.10%.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 owned 7,590 shares of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on GEV shares. BMO Capital Markets boosted their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective on the stock in a research note on Monday. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, UBS Group began coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price target on the stock. Four investment 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $592.35.

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.