FSM Wealth Advisors LLC Grows Holdings in GE Vernova Inc. $GEV

Key Points

• FSM Wealth Advisors LLC increased its holdings in GE Vernova Inc. by 33.5%, totaling 2,632 shares valued at $1.396 million as of the latest SEC filing.
• GE Vernova reported $1.64 EPS, missing estimates of $1.72, while revenue reached $9.97 billion, exceeding expectations.
• The company declared a quarterly dividend of $0.25 per share, scheduled for payment on November 17th, representing an annual yield of 0.2%.

FSM Wealth Advisors LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 33.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,632 shares of the company's stock after purchasing an additional 660 shares during the quarter. FSM Wealth Advisors LLC's holdings in GE Vernova were worth $1,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted 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 acquiring an additional 892,549 shares during the last quarter. Amundi boosted its stake in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after acquiring an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in GE Vernova by 10,044.9% in the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock valued at $445,773,000 after acquiring an additional 834,129 shares during the last quarter. TD Asset Management Inc boosted its stake in GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after acquiring an additional 799,388 shares during the last quarter. Finally, Nuveen LLC purchased a new position in GE Vernova in the first quarter valued at about $223,556,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $592.28 on Thursday. The company's fifty day moving average price is $612.65 and its 200-day moving average price is $525.17. The firm has a market capitalization of $161.23 billion, a price-to-earnings ratio of 142.72, a PEG ratio of 4.24 and a beta of 1.72. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analysts' expectations of $9.15 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company posted ($0.35) 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 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Susquehanna upped their price target on shares of GE Vernova from $736.00 to $740.00 and gave the company a "positive" rating in a research note on Monday, October 13th. Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price on the stock in a report on Monday, September 15th. Finally, Wells Fargo & Company upped their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $602.63.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction 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 of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

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.