Autumn Glory Partners LLC Grows Stake in GE Vernova Inc. $GEV

Key Points

• Autumn Glory Partners LLC increased its stake in GE Vernova Inc. by 67.1%, owning a total of 1,245 shares valued at $659,000 after purchasing an additional 500 shares in the second quarter.
• GE Vernova reported a quarterly EPS of $1.86, surpassing analyst estimates of $1.63, with revenue reaching $9.11 billion, an increase of 11.1% year-over-year.
• The company announced a quarterly dividend of $0.25 to be paid on November 17th, representing a 0.2% dividend yield with a payout ratio of 24.10%.

Autumn Glory Partners LLC grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 67.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,245 shares of the company's stock after buying an additional 500 shares during the quarter. Autumn Glory Partners LLC's holdings in GE Vernova were worth $659,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of GE Vernova by 21.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock valued at $634,984,000 after purchasing an additional 367,150 shares during the period. Wellington Management Group LLP lifted its stake in shares of GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after purchasing an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock valued at $591,333,000 after purchasing an additional 622,730 shares during the period.

GE Vernova Trading Down 1.8%

GE Vernova stock opened at $595.07 on Monday. The firm has a market cap of $161.99 billion, a price-to-earnings ratio of 143.39, a PEG ratio of 4.33 and a beta of 1.72. The stock has a fifty day simple moving average of $623.21 and a two-hundred day simple moving average of $501.17. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during 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%.The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS 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 dividend yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on 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 sale, the chief financial officer owned 7,590 shares of the company's stock, 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 at this link. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GEV. Glj Research began coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Royal Bank Of Canada set a $605.00 target price on GE Vernova and gave the company a "sector perform" rating in a research note on Wednesday. Susquehanna raised their price objective on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Mizuho lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research report on Monday, July 28th. Finally, BMO Capital Markets raised their price objective on GE Vernova from $590.00 to $690.00 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, nineteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $598.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.