Magnetar Financial LLC Makes New Investment in GE Vernova Inc. $GEV

Key Points

• Magnetar Financial LLC has acquired 9,145 shares of GE Vernova Inc. (NYSE: GEV), valued at approximately $2,792,000, during the first quarter of 2023.
• GE Vernova recently reported $1.86 earnings per share, exceeding the consensus estimate of $1.63, along with quarterly revenues of $9.11 billion, up 11.1% from the previous year.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 0.2% and a payout ratio of 24.10%.

Magnetar Financial LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,145 shares of the company's stock, valued at approximately $2,792,000.

A number of other institutional investors also recently modified their holdings of the company. Clarity Asset Management Inc. acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova in the first quarter valued at about $27,000. Orion Capital Management LLC acquired a new stake in shares of GE Vernova in the fourth quarter valued at about $30,000. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the first quarter valued at about $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares during the last quarter.

GE Vernova Trading Down 3.0%

Shares of NYSE:GEV traded down $19.09 during trading on Friday, reaching $614.60. 2,264,673 shares of the stock were exchanged, compared to its average volume of 2,392,169. GE Vernova Inc. has a 12 month low of $185.35 and a 12 month high of $677.29. The firm has a market cap of $167.31 billion, a PE ratio of 148.10, a PEG ratio of 4.24 and a beta of 1.88. The stock has a 50-day moving average price of $589.73 and a 200-day moving average price of $450.93.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 13.23% and a net margin of 3.16%.The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's payout ratio is 24.10%.

Insider Activity

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

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Barclays boosted their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Morgan Stanley boosted their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Citigroup boosted their price target on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

GE Vernova 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.