Gilliland Jeter Wealth Management LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• Gilliland Jeter Wealth Management LLC has acquired a new stake in GE Vernova Inc., purchasing 579 shares valued at approximately $306,000.
• AQR Capital Management LLC significantly increased its holdings in GE Vernova by 252.9%, now owning over 1.24 million shares valued at $366 million.
• GE Vernova reported $1.86 EPS for the recent quarter, exceeding expectations of $1.63, with a revenue of approximately $9.11 billion, reflecting an 11.1% increase year-over-year.

Gilliland Jeter Wealth Management LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 579 shares of the company's stock, valued at approximately $306,000.

A number of other institutional investors have also modified their holdings of GEV. AQR Capital Management LLC increased its holdings in shares of 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 period. Amundi increased its holdings in shares of 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 purchasing an additional 868,927 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of 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 purchasing an additional 834,129 shares during the period. TD Asset Management Inc increased its holdings in shares of 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 purchasing an additional 799,388 shares during the period. Finally, Nuveen LLC acquired a new position in shares of GE Vernova in the first quarter valued at approximately $223,556,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GEV. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada set a $605.00 price target on GE Vernova and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. Wells Fargo & Company lifted their price target on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price target on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $598.50.

GE Vernova Stock Performance

GEV opened at $634.08 on Friday. The business's fifty day moving average is $620.64 and its two-hundred day moving average is $506.61. The company has a market cap of $172.61 billion, a price-to-earnings ratio of 152.79, a PEG ratio of 4.55 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 released 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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the firm posted $4.65 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling

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 value 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 represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

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.

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.