Ascent Group LLC Grows Position in GE Vernova Inc. $GEV

Key Points

• Ascent Group LLC increased its holdings in GE Vernova Inc. by 154.2% in Q1, now owning 4,851 shares valued at approximately $1.48 million.
• CFO Kenneth Scott Parks sold 3,300 shares for about $2.05 million, representing a 30.30% decrease in his ownership position.
• Barclays raised its target price for GE Vernova from $580 to $706 and upgraded it to an "overweight" rating, amidst an overall positive outlook from multiple analysts.

Ascent Group LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 154.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,851 shares of the company's stock after purchasing an additional 2,943 shares during the quarter. Ascent Group LLC's holdings in GE Vernova were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GEV. EQ Wealth Advisors LLC acquired a new position in GE Vernova during the 1st quarter worth about $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the 1st quarter worth about $27,000. Orion Capital Management LLC acquired a new position in GE Vernova during the 4th quarter worth about $30,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 53 shares in the last quarter. Finally, Saudi Central Bank acquired a new position in GE Vernova during the 1st quarter worth about $33,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GEV. Barclays increased their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. UBS Group initiated coverage on GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 price target on the stock. Finally, Robert W. Baird increased 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 research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $573.75.

GE Vernova Stock Performance

GEV opened at $605.65 on Wednesday. GE Vernova Inc. has a one year low of $199.14 and a one year high of $677.29. The company has a market cap of $164.87 billion, a P/E ratio of 145.94, a PEG ratio of 4.15 and a beta of 1.88. The business's 50-day simple moving average is $601.36 and its 200-day simple moving average is $461.60.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the prior year, the business posted $4.65 EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts predict 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. Stockholders of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

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.

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