Appleton Partners Inc. MA Sells 1,206 Shares of GE Vernova Inc. $GEV

Key Points

• Appleton Partners Inc. MA reduced its investment in GE Vernova Inc. by 2.5% during the 2nd quarter, now owning approximately 47,967 shares valued at $25.38 million.
• In the 1st quarter, AQR Capital Management significantly increased its stake in GE Vernova by 252.9%, acquiring over 892,549 shares valued at $366 million.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, indicating a dividend yield of 0.2% and a payout ratio of 24.10%.

Appleton Partners Inc. MA cut its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,967 shares of the company's stock after selling 1,206 shares during the quarter. GE Vernova makes up approximately 1.8% of Appleton Partners Inc. MA's portfolio, making the stock its 10th biggest position. Appleton Partners Inc. MA's holdings in GE Vernova were worth $25,382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GEV. AQR Capital Management LLC lifted its stake in shares of GE Vernova by 252.9% in the 1st 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 during the period. Amundi increased its position in GE Vernova by 109.0% in the 1st 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. Assenagon Asset Management S.A. increased its position in GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock valued at $445,773,000 after buying an additional 834,129 shares in the last quarter. TD Asset Management Inc increased its position in GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after buying an additional 799,388 shares in the last quarter. Finally, Nuveen LLC bought a new stake in GE Vernova in the 1st quarter valued at about $223,556,000.

GE Vernova Price Performance

Shares of GEV opened at $595.07 on Monday. The firm has a market cap of $161.99 billion, a PE ratio of 143.39, a PEG ratio of 4.33 and a beta of 1.72. The stock's fifty day moving average price is $623.21 and its two-hundred day moving average price is $501.17. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results 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 firm had revenue of $9.11 billion for 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 business's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on 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 sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on GEV shares. Bank of America boosted their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GE Vernova in a research report on Saturday, September 27th. Royal Bank Of Canada set a $605.00 target price on GE Vernova and gave the company a "sector perform" rating in a research report on Wednesday. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective for the company in a report on Monday, September 15th. Finally, The Goldman Sachs Group boosted their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Four investment 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $598.50.

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.

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