Everstar Asset Management LLC Acquires Shares of 42,392 GE Vernova Inc. $GEV

Key Points

• Everstar Asset Management LLC has acquired a new stake in GE Vernova Inc., purchasing 42,392 shares valued at approximately $12.9 million, making it the 9th largest position in their portfolio.
• GE Vernova reported a $1.86 earnings per share for the last quarter, exceeding estimates, with a revenue of $9.11 billion, reflecting an 11.1% increase compared to the previous year.
• The company recently announced a quarterly dividend of $0.25 per share, with an annualized yield of 0.2% and a payout ratio of 24.10%.

Everstar Asset Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 42,392 shares of the company's stock, valued at approximately $12,941,000. GE Vernova makes up 2.4% of Everstar Asset Management LLC's investment portfolio, making the stock its 9th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares during the last quarter. American Assets Inc. acquired a new position in shares of GE Vernova in the fourth quarter worth $658,000. Ethic Inc. acquired a new position in shares of GE Vernova in the fourth quarter worth $4,601,000. Ensign Peak Advisors Inc raised its holdings in shares of GE Vernova by 23.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 115,657 shares of the company's stock worth $38,043,000 after acquiring an additional 21,853 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of GE Vernova by 18.3% in the fourth quarter. Focus Partners Wealth now owns 34,166 shares of the company's stock worth $11,754,000 after acquiring an additional 5,283 shares during the last quarter.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by company insiders.

GE Vernova Trading Down 1.4%

NYSE GEV traded down $8.81 on Thursday, hitting $634.75. 2,541,727 shares of the stock traded hands, compared to its average volume of 3,507,125. The stock has a 50-day moving average of $604.12 and a 200 day moving average of $462.85. GE Vernova Inc. has a twelve month low of $199.65 and a twelve month high of $677.29. The company has a market capitalization of $172.79 billion, a P/E ratio of 152.89, a price-to-earnings-growth ratio of 4.19 and a beta of 1.87.

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, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for 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%.The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. The Goldman Sachs Group boosted their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, UBS Group initiated coverage on GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus price target of $573.75.

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.