Advisors Capital Management LLC Grows Stock Position in GE Vernova Inc. $GEV

Key Points

• Advisors Capital Management LLC increased its stake in GE Vernova Inc. by a remarkable 392%, now holding 3,857 shares valued at approximately $1.18 million as of the latest SEC filing.
• Multiple large investors, including GAMMA Investing LLC and AQR Capital Management LLC, significantly escalated their positions in GE Vernova, with GAMMA increasing by 32,984.2% to own over $653 million in shares.
• GE Vernova recently reported better-than-expected quarterly earnings, with an EPS of $1.86, surpassing estimates by $0.23 and showing a revenue increase of 11.1% year-over-year.

Advisors Capital Management LLC boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 392.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,857 shares of the company's stock after buying an additional 3,073 shares during the quarter. Advisors Capital Management LLC's holdings in GE Vernova were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 2,135,066 shares in the last quarter. AQR Capital Management LLC grew its position in shares of 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 purchasing an additional 892,549 shares in the last quarter. Amundi grew its position in shares of 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 purchasing 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 in the last quarter. Finally, Nuveen LLC purchased a new position in shares of GE Vernova in the first quarter valued at $223,556,000.

GE Vernova Stock Performance

NYSE:GEV opened at $625.99 on Friday. The firm has a market capitalization of $170.41 billion, a price-to-earnings ratio of 150.84, a P/E/G ratio of 4.38 and a beta of 1.87. GE Vernova Inc. has a 52-week low of $219.01 and a 52-week high of $677.29. The stock has a fifty day moving average of $608.65 and a 200 day moving average of $467.18.

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. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a dividend of $0.25 per share. 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 currently 24.10%.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GEV shares. HSBC lifted their price target on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research report on Friday, September 5th. BMO Capital Markets lifted their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Bank of America lifted their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, 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 report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $580.04.

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.