GE Vernova Inc. $GEV Shares Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its holdings in GE Vernova Inc. by 18.8% in the second quarter, now owning shares worth approximately $2,065,000.
• GE Vernova reported $1.86 EPS for the quarter, surpassing analysts' expectations, while revenue rose by 11.1% year-over-year to $9.11 billion.
• The company announced a quarterly dividend of $0.25, with a payout ratio of 24.10%, payable on November 17th to stockholders of record on October 20th.

International Assets Investment Management LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 18.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 3,903 shares of the company's stock after acquiring an additional 619 shares during the quarter. International Assets Investment Management LLC's holdings in GE Vernova were worth $2,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings 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 worth $366,016,000 after purchasing an additional 892,549 shares during the period. Amundi raised its position in shares of GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock worth $496,013,000 after buying an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock worth $445,773,000 after buying an additional 834,129 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after acquiring an additional 799,388 shares during the period. Finally, Nuveen LLC bought a new position in shares of GE Vernova in the first quarter valued at approximately $223,556,000.

GE Vernova Trading Down 0.4%

GEV stock opened at $599.62 on Monday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The firm has a 50-day moving average of $616.42 and a two-hundred day moving average of $522.14. The firm has a market capitalization of $163.23 billion, a PE ratio of 144.49, a P/E/G ratio of 4.34 and a beta of 1.72.

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

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. Susquehanna boosted their target price on GE Vernova from $736.00 to $740.00 and gave the stock a "positive" rating in a report on Monday, October 13th. Jefferies Financial Group upped their price objective on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a report on Friday, September 12th. Wells Fargo & Company lifted their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Morgan Stanley raised their price objective on shares of GE Vernova from $675.00 to $690.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Citigroup lifted their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $592.61.

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.

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