Ieq Capital LLC Purchases 21,552 Shares of GE Vernova Inc. $GEV

Key Points

• Ieq Capital LLC increased its stake in GE Vernova Inc. by 73% during the first quarter, purchasing an additional 21,552 shares, which brings its total holdings to 51,093 shares valued at approximately $15.6 million.
• GE Vernova recently reported a quarterly EPS of $1.86, surpassing estimates of $1.63, with revenue reaching $9.11 billion, a year-over-year increase of 11.1%.
• The company also declared a quarterly dividend of $0.25, translating to an annualized payout of $1.00 and a yield of 0.2% with a payout ratio of 24.1%.

Ieq Capital LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 73.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,093 shares of the company's stock after purchasing an additional 21,552 shares during the quarter. Ieq Capital LLC's holdings in GE Vernova were worth $15,598,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Navigoe LLC bought a new stake in GE Vernova in the fourth quarter valued at approximately $27,000. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. Clarity Asset Management Inc. bought a new position in shares of GE Vernova during the fourth quarter valued at approximately $28,000. Finally, Orion Capital Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at approximately $30,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent analyst reports. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Susquehanna upped their target price on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Finally, Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Four investment 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. Based on data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova Stock Down 3.0%

Shares of NYSE GEV traded down $19.09 during trading on Friday, reaching $614.60. The company had a trading volume of 2,264,673 shares, compared to its average volume of 2,432,720. GE Vernova Inc. has a 12-month low of $185.35 and a 12-month high of $677.29. The stock has a market cap of $167.31 billion, a PE ratio of 148.10, a P/E/G ratio of 4.24 and a beta of 1.90. The business's 50-day moving average is $589.73 and its 200 day moving average is $450.37.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS 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 firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the prior year, the firm posted $4.65 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, 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 declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio is presently 24.10%.

Insider Activity

In other 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 $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

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.