Ascent Capital Management LLC Makes New $330,000 Investment in GE Vernova Inc. $GEV

Key Points

• Ascent Capital Management LLC has made a new investment of $330,000 in GE Vernova Inc., acquiring 624 shares in the second quarter, highlighting interest from institutional investors.
• GE Vernova's CFO, Kenneth Scott Parks, sold 3,300 shares for over $2 million, indicating a 30.3% reduction in their stock position.
• The company reported strong quarterly earnings, exceeding estimates with $1.86 EPS and revenue of $9.11 billion, marking an 11.1% year-over-year increase.

Ascent Capital Management LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 624 shares of the company's stock, valued at approximately $330,000.

A number of other large investors have also modified their holdings of GEV. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares during the period. Centaurus Financial Inc. raised its position in shares of GE Vernova by 94.4% in the fourth quarter. Centaurus Financial Inc. now owns 1,600 shares of the company's stock worth $526,000 after acquiring an additional 777 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in shares of GE Vernova in the fourth quarter worth about $237,000. MassMutual Private Wealth & Trust FSB raised its position in shares of GE Vernova by 24.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,409 shares of the company's stock worth $430,000 after purchasing an additional 276 shares during the last quarter. Finally, Marcum Wealth LLC raised its position in shares of GE Vernova by 32.5% during the 1st quarter. Marcum Wealth LLC now owns 1,171 shares of the company's stock worth $357,000 after purchasing an additional 287 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

GE Vernova Trading Down 0.4%

Shares of NYSE GEV opened at $605.21 on Friday. GE Vernova Inc. has a 12-month low of $248.50 and a 12-month high of $677.29. The stock has a market cap of $164.75 billion, a PE ratio of 145.83, a P/E/G ratio of 4.43 and a beta of 1.87. The company has a 50-day moving average of $622.99 and a 200 day moving average of $488.82.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 EPS. GE Vernova's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend 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 24.10%.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" 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. The Goldman Sachs Group upped their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Susquehanna upped their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets upped their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $592.35.

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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