Asset Management One Co. Ltd. Increases Position in GE Vernova Inc. $GEV

Key Points

• Asset Management One Co. Ltd. increased its shareholding in GE Vernova Inc. by 8.5%, owning approximately 127,055 shares valued at about $67.2 million.
• Analysts showed mixed sentiment, with Barclays raising their price target to $710, while Citigroup lowered theirs to $658, reflecting various outlooks on the stock's performance.
• GE Vernova recently announced a quarterly dividend of $0.25, which will be paid on November 17th, representing an annualized yield of 0.2% and a payout ratio of 24.10%.

Asset Management One Co. Ltd. increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 127,055 shares of the company's stock after purchasing an additional 9,930 shares during the quarter. Asset Management One Co. Ltd.'s holdings in GE Vernova were worth $67,231,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GEV. Brighton Jones LLC raised its holdings in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares during the period. GAMMA Investing LLC grew its position in GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after acquiring an additional 542 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in GE Vernova in the first quarter worth $328,000. Lecap Asset Management Ltd. purchased a new stake in GE Vernova during the first quarter valued at about $407,000. Finally, Daymark Wealth Partners LLC boosted its position in GE Vernova by 13.7% during the first quarter. Daymark Wealth Partners LLC now owns 7,010 shares of the company's stock valued at $2,140,000 after buying an additional 842 shares during the period.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of GE Vernova from $706.00 to $710.00 and gave the stock an "overweight" rating in a research note on Thursday. Citigroup cut their price target on shares of GE Vernova from $670.00 to $658.00 and set a "neutral" rating on the stock in a report on Thursday. Rothschild Redb cut shares of GE Vernova from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 15th. BMO Capital Markets raised their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Royal Bank Of Canada raised their target price on shares of GE Vernova from $605.00 to $630.00 and gave the stock a "sector perform" rating in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $607.48.

GE Vernova Trading Up 3.2%

GEV stock opened at $594.45 on Friday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company has a 50-day moving average price of $612.04 and a 200 day moving average price of $527.31. The stock has a market cap of $161.82 billion, a PE ratio of 96.82, a P/E/G ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion during the quarter, compared to analysts' expectations of $9.15 billion. During the same period last year, the firm earned ($0.35) earnings per share. GE Vernova's quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed 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 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%.

GE Vernova 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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