Intrinsic Value Partners LLC Sells 770 Shares of GE Vernova Inc. $GEV

Key Points

• Intrinsic Value Partners LLC reduced its stake in GE Vernova Inc. by 40.1%, selling 770 shares and bringing its total to 1,148 shares valued at approximately $607,000.
• GE Vernova reported $1.86 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations of $1.63, and had a revenue of $9.11 billion, up 11.1% year-over-year.
• The company recently announced a quarterly dividend of $0.25 per share, with the ex-dividend date set for October 20th, which equates to an annualized yield of 0.2%.

Intrinsic Value Partners LLC cut its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 40.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,148 shares of the company's stock after selling 770 shares during the period. Intrinsic Value Partners LLC's holdings in GE Vernova were worth $607,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GEV. AQR Capital Management LLC boosted its holdings in GE Vernova by 252.9% in the 1st 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 boosted its holdings in GE Vernova by 109.0% in the 1st 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. boosted its holdings in GE Vernova by 10,044.9% in the 2nd 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 boosted its holdings in GE Vernova by 627.2% in the 1st 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 bought a new stake in GE Vernova in the 1st quarter valued at $223,556,000.

GE Vernova Stock Down 1.8%

Shares of GE Vernova stock opened at $595.07 on Friday. The stock has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a 50-day simple moving average of $623.21 and a 200 day simple moving average of $498.89. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a report on Friday, September 12th. TD Cowen raised their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Bank of America raised their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $598.50.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated 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 owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

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.

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