524 Shares in GE Vernova Inc. $GEV Acquired by US Asset Management LLC

Key Points

• US Asset Management LLC acquired 524 shares of GE Vernova Inc., valued at approximately $277,000, during the second quarter.
• GE Vernova recently reported an EPS of $1.86 for the quarter, exceeding analysts' expectations and demonstrating an 11.1% revenue growth year-over-year.
• The company declared a quarterly dividend of $0.25, set to be paid on November 17th, signifying a dividend yield of 0.2%.

US Asset Management LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 524 shares of the company's stock, valued at approximately $277,000.

Several other hedge funds have also added to or reduced their stakes in the company. Diversified Enterprises LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $288,000. Cahaba Wealth Management Inc. acquired a new stake in GE Vernova during the 2nd quarter worth approximately $203,000. Ascent Capital Management LLC acquired a new stake in GE Vernova during the 2nd quarter worth approximately $330,000. West Branch Capital LLC lifted its holdings in GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock worth $52,000 after purchasing an additional 20 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in GE Vernova by 13.1% in the 2nd quarter. Signaturefd LLC now owns 6,061 shares of the company's stock valued at $3,207,000 after acquiring an additional 702 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Mizuho lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. Robert W. Baird lifted their price target on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. TD Cowen lifted their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Stock Down 0.4%

Shares of GEV stock opened at $605.21 on Friday. The stock's fifty day simple moving average is $622.99 and its 200 day simple moving average is $488.82. GE Vernova Inc. has a twelve month low of $248.50 and a twelve month high of $677.29. The firm has a market capitalization of $164.75 billion, a P/E ratio of 145.83, a P/E/G ratio of 4.43 and a beta of 1.87.

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

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given 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 is Monday, October 20th. GE Vernova's payout ratio is 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.