Corigliano Investment Advisers LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• Corigliano Investment Advisers LLC has acquired a new position in GE Vernova Inc., purchasing 2,000 shares valued at approximately $611,000 in the first quarter.
• Recent insider trading saw CFO Kenneth Scott Parks sell 3,300 shares, reducing his stake by 30.30%, and now holds approximately $4.7 million worth of shares.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and an average target price of $560.21, following various upgrades and downgrades from significant financial institutions.

Corigliano Investment Advisers LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 2,000 shares of the company's stock, valued at approximately $611,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Banque Transatlantique SA grew its stake in GE Vernova by 181.8% in the first quarter. Banque Transatlantique SA now owns 3,334 shares of the company's stock valued at $941,000 after purchasing an additional 2,151 shares during the last quarter. AQR Capital Management LLC grew its stake in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Advisors Asset Management Inc. grew its stake in GE Vernova by 56.8% in the first quarter. Advisors Asset Management Inc. now owns 29,293 shares of the company's stock valued at $8,943,000 after purchasing an additional 10,612 shares during the last quarter. Alyeska Investment Group L.P. grew its stake in GE Vernova by 85.0% in the first quarter. Alyeska Investment Group L.P. now owns 194,225 shares of the company's stock valued at $59,293,000 after purchasing an additional 89,225 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in GE Vernova by 22.9% in the first quarter. Ancora Advisors LLC now owns 2,968 shares of the company's stock valued at $906,000 after purchasing an additional 554 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on GEV shares. Barclays raised their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Bank of America raised their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Finally, Citigroup raised their price target on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $573.75.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

GE Vernova Price Performance

GEV stock traded down $16.90 during trading on Friday, hitting $581.92. 3,473,078 shares of the company traded hands, compared to its average volume of 2,574,632. The stock's 50-day simple moving average is $597.95 and its 200 day simple moving average is $458.00. The company has a market cap of $158.41 billion, a PE ratio of 140.22, a P/E/G ratio of 4.02 and a beta of 1.87. GE Vernova Inc. has a 1 year low of $193.38 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

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.