Asio Capital LLC Buys 685 Shares of GE Vernova Inc. $GEV

Key Points

• Asio Capital LLC increased its holding in GE Vernova Inc. by 4.5% during the second quarter, now owning a total of 15,941 shares valued at approximately $8.43 million.
• Insider transactions included CFO Kenneth Scott Parks selling 3,300 shares at an average price of $620, reducing his ownership by 30.3%.
• GE Vernova announced a quarterly dividend of $0.25 per share, with an ex-dividend date of October 20th, reflecting a 0.2% yield.

Asio Capital LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,941 shares of the company's stock after acquiring an additional 685 shares during the period. GE Vernova comprises approximately 1.4% of Asio Capital LLC's investment portfolio, making the stock its 21st largest holding. Asio Capital LLC's holdings in GE Vernova were worth $8,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of GEV. AQR Capital Management LLC lifted its stake in GE Vernova by 252.9% during the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Amundi lifted its stake in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after acquiring an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock valued at $445,773,000 after acquiring an additional 834,129 shares in the last quarter. TD Asset Management Inc lifted its stake in GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after acquiring an additional 799,388 shares in the last quarter. Finally, Nuveen LLC bought a new position in GE Vernova during the 1st quarter valued at $223,556,000.

Insider Buying and Selling

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

GE Vernova Stock Performance

Shares of GEV opened at $600.66 on Tuesday. The business has a 50-day moving average of $623.69 and a 200 day moving average of $493.48. GE Vernova Inc. has a fifty-two week low of $248.50 and a fifty-two week high of $677.29. The firm has a market cap of $163.51 billion, a P/E ratio of 144.74, a price-to-earnings-growth ratio of 4.41 and a beta of 1.88.

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 for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the firm posted $4.65 EPS. The firm'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, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 24.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GEV shares. TD Cowen raised their target price on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wells Fargo & Company raised their target price on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley raised their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Finally, Robert W. Baird raised their target price 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, twenty have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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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