Asset Allocation & Management Company LLC Invests $243,000 in GE Vernova Inc. $GEV

Key Points

• Asset Allocation & Management Company LLC has invested approximately $243,000 in GE Vernova Inc. by acquiring 459 shares, marking a notable development in the company's institutional investment landscape.
• GE Vernova reported $1.86 earnings per share (EPS) for the last quarter, surpassing analyst expectations, with revenue increasing by 11.1% compared to the previous year.
• The company recently announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 0.2%, with a payout ratio of 24.10%.

Asset Allocation & Management Company LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 459 shares of the company's stock, valued at approximately $243,000.

Several other large investors have also added to or reduced their stakes in the business. EQ Wealth Advisors LLC bought a new stake in GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the first quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of 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 purchasing an additional 53 shares in the last quarter. 1248 Management LLC bought a new position in GE Vernova during the 1st quarter worth $31,000. Finally, Saudi Central Bank acquired a new position in GE Vernova in the first quarter valued at about $33,000.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by corporate insiders.

GE Vernova Stock Down 0.4%

NYSE GEV opened at $605.21 on Friday. The stock's 50-day simple moving average is $622.99 and its two-hundred day simple moving average is $488.82. The company has a market capitalization of $164.75 billion, a price-to-earnings ratio of 145.83, a PEG ratio of 4.43 and a beta of 1.87. GE Vernova Inc. has a twelve month low of $248.50 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The business 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%.GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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 issued a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GEV. Melius Research set a $740.00 target price on GE Vernova and gave the company a "buy" rating in a report on Monday, September 15th. Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Glj Research initiated coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average price target of $592.35.

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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