Assenagon Asset Management S.A. Purchases 95,946 Shares of GE Vernova Inc. $GEV

Key Points

• Assenagon Asset Management dramatically increased its GE Vernova stake in the first quarter, buying 95,946 additional shares and lifting its holdings by 1,008.4% to 105,461 shares valued at about $92.1 million.
• Wall Street sentiment on GE Vernova (NYSE: GEV) remains broadly bullish, with multiple analysts raising price targets and the consensus rating sitting at Moderate Buy with an average target of $1,089.88.
• The company continues to benefit from strong AI-driven power demand themes, but insider sales and recent volatility suggest some investors are weighing how much upside remains after the stock’s sharp rally.

Assenagon Asset Management S.A. lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1,008.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,461 shares of the company's stock after buying an additional 95,946 shares during the period. Assenagon Asset Management S.A.'s holdings in GE Vernova were worth $92,057,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GEV. Bell Investment Advisors Inc lifted its stake in GE Vernova by 5.2% in the first quarter. Bell Investment Advisors Inc now owns 221 shares of the company's stock worth $193,000 after purchasing an additional 11 shares during the last quarter. Sky Investment Group LLC grew its position in GE Vernova by 0.5% during the 1st quarter. Sky Investment Group LLC now owns 2,405 shares of the company's stock worth $2,099,000 after acquiring an additional 12 shares during the last quarter. RFG Advisory LLC increased its stake in GE Vernova by 2.1% in the 4th quarter. RFG Advisory LLC now owns 634 shares of the company's stock worth $414,000 after purchasing an additional 13 shares during the period. BlackDiamond Wealth Management LLC increased its stake in GE Vernova by 2.8% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company's stock worth $308,000 after purchasing an additional 13 shares during the period. Finally, Murphy & Mullick Capital Management Corp lifted its position in GE Vernova by 1.0% in the first quarter. Murphy & Mullick Capital Management Corp now owns 1,374 shares of the company's stock valued at $1,199,000 after purchasing an additional 13 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on GEV shares. Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and increased their price objective for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Sanford C. Bernstein assumed coverage on shares of GE Vernova in a research report on Tuesday, June 16th. They set an "outperform" rating and a $1,206.00 price target for the company. TD Cowen increased their price target on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Finally, Erste Group Bank raised shares of GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned 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 $1,089.88.

Trending Headlines about GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova is being highlighted as a key beneficiary of the AI data-center buildout, with multiple reports pointing to a “power supercycle” and strong demand for its gas turbines and grid solutions. AI Data Centers Are Driving a Power Supercycle. GE Vernova's Gas Turbine Prices Are Up 300% in Three Years
• Positive Sentiment: The company introduced GridOS for Transmission and new AI whitepapers, reinforcing the view that GE Vernova is expanding its software and grid-optimization offerings as utilities modernize infrastructure. GE Vernova (GEV) Introduces GridOS for Transmission
• Positive Sentiment: Wall Street and market commentary continue to frame GEV as a high-conviction stock tied to the power needs of AI, with analysts pointing to favorable long-term demand trends for electricity generation and transmission. Best Nuclear and AI Energy Stocks to Buy Now and Hold : GEV, TLN
• Neutral Sentiment: Recent valuation-focused coverage suggests the stock’s big rally has already priced in some of the AI and power-growth optimism, so investors are debating how much upside is left. GE Vernova (GEV) Stock After 103% One-Year Rally Is There Upside Left
• Negative Sentiment: The stock also followed a broad market selloff in the prior session, when GEV fell more than the wider market, which may have created some volatility even amid strong longer-term fundamentals. GE Vernova (GEV) Falls More Steeply Than Broader Market: What Investors Need to Know

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by corporate insiders.

GE Vernova Price Performance

GEV opened at $1,055.68 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. GE Vernova Inc. has a 52-week low of $482.20 and a 52-week high of $1,181.95. The stock has a market capitalization of $283.68 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 3.83 and a beta of 1.23. The stock's 50 day moving average price is $1,028.09 and its 200-day moving average price is $859.51.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the company earned $0.91 earnings per share. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities research analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's dividend payout ratio is presently 5.83%.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.