Norden Group LLC Makes New $272,000 Investment in GE Vernova Inc. $GEV

Key Points

• Norden Group LLC made a new investment of $272,000 in GE Vernova Inc. during the second quarter, acquiring 514 shares of stock.
• Analysts have mixed ratings for GE Vernova, with Guggenheim downgrading the stock from "buy" to "neutral," while Melius upgraded it to "buy" with a target price of $740.00.
• The company recently declared a quarterly dividend of $0.25 per share, with a payout ratio of 24.10% and an annual yield of 0.2%.

Norden Group LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 514 shares of the company's stock, valued at approximately $272,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after buying an additional 2,135,066 shares in the last quarter. AQR Capital Management LLC grew its stake 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 in the last quarter. Amundi grew its stake in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company's stock worth $496,013,000 after purchasing an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in 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 worth $445,773,000 after purchasing an additional 834,129 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after purchasing an additional 799,388 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price on the stock in a research report on Monday, September 15th. Barclays increased their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Susquehanna increased their target price on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Finally, Bank of America increased their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Price Performance

NYSE GEV opened at $605.21 on Friday. The stock's fifty day moving average price is $622.99 and its 200 day moving average price is $488.82. GE Vernova Inc. has a 1 year low of $248.50 and a 1 year high of $677.29. The company has a market cap of $164.75 billion, a price-to-earnings ratio of 145.83, a PEG ratio of 4.43 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last released its 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. 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 the consensus estimate of $8.78 billion. During the same period in the prior year, the firm earned $4.65 EPS. The firm's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

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.

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