Apollon Wealth Management LLC Buys 4,609 Shares of GE Vernova Inc. $GEV

Key Points

• Apollon Wealth Management LLC increased its stake in GE Vernova Inc. by 17.8%, acquiring an additional 4,609 shares during the second quarter, bringing its total to 30,457 shares valued at approximately $16.1 million.
• GE Vernova reported a quarterly earnings per share (EPS) of $1.86, exceeding analysts' expectations of $1.63, while revenues rose to $9.11 billion, indicating an 11.1% increase year-on-year.
• The company announced a quarterly dividend of $0.25 per share, which will be paid to shareholders on November 17th, contributing to a 0.2% annualized yield.

Apollon Wealth Management LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 17.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,457 shares of the company's stock after purchasing an additional 4,609 shares during the quarter. Apollon Wealth Management LLC's holdings in GE Vernova were worth $16,116,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in GE Vernova by 1.8% in 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 last quarter. Goldman Sachs Group Inc. grew its position in GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 acquiring an additional 367,150 shares during the last quarter. Wellington Management Group LLP grew 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 acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

GE Vernova Trading Down 4.4%

GEV opened at $606.30 on Friday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The business's fifty day simple moving average is $619.64 and its 200-day simple moving average is $508.47. The company has a market capitalization of $165.05 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 4.61 and a beta of 1.72.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a dividend of $0.25 per share. 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 dividend payout ratio is 24.10%.

Analysts Set New Price Targets

Several brokerages have commented on GEV. Jefferies Financial Group upped their price objective on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research report on Friday, September 12th. Melius Research set a $740.00 price objective on GE Vernova and gave the company a "buy" rating in a research report on Monday, September 15th. Robert W. Baird upped their price objective on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley upped their price objective on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, UBS Group started coverage on GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective on the stock. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $598.50.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on 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 directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.15% of the stock is owned by company insiders.

GE Vernova 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.

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