Acorns Advisers LLC Grows Holdings in GE Vernova Inc. $GEV

Key Points

• Acorns Advisers LLC increased its holdings in GE Vernova Inc. by 40.7% in the first quarter, owning 1,479 shares worth approximately $452,000 after acquiring an additional 428 shares.
• Several institutional investors, including GAMMA Investing LLC, AQR Capital Management LLC, and TD Asset Management Inc., significantly boosted their stakes in GE Vernova, with GAMMA's holdings astonishingly increasing by 32,984.2%.
• Analysts have a generally positive outlook on GE Vernova, with four analysts rating it as a Strong Buy and an average target price increase to $706.00 from $568.00 by Robert W. Baird.

Acorns Advisers LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 40.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,479 shares of the company's stock after buying an additional 428 shares during the period. Acorns Advisers LLC's holdings in GE Vernova were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. GAMMA Investing LLC increased its holdings in GE Vernova by 32,984.2% in 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. AQR Capital Management LLC increased its holdings in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after buying an additional 892,549 shares in the last quarter. Amundi increased its holdings in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after buying an additional 868,927 shares in the last quarter. TD Asset Management Inc grew its position in shares of GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after purchasing an additional 799,388 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of GE Vernova in the first quarter valued at about $223,556,000.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. BMO Capital Markets lifted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Susquehanna lifted their target price on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Mizuho lowered 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. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $573.75.

Insiders Place Their Bets

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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

GE Vernova Price Performance

NYSE:GEV opened at $605.65 on Wednesday. The firm has a market capitalization of $164.87 billion, a price-to-earnings ratio of 145.94, a PEG ratio of 4.15 and a beta of 1.88. The company's 50-day moving average is $601.36 and its two-hundred day moving average is $461.60. GE Vernova Inc. has a 1-year low of $199.14 and a 1-year high of $677.29.

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

GE Vernova Announces Dividend

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

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.

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.