GE Vernova Inc. $GEV Shares Bought by Scientech Research LLC

Key Points

• Scientech Research LLC increased its stake in GE Vernova Inc. by 25.1% during the first quarter, owning a total of 4,391 shares valued at approximately $1.34 million.
• Several other hedge funds also raised their holdings in GE Vernova, with Vanguard Group increasing its position by 1.8% and GAMMA Investing LLC by an astonishing 32,984.2%.
• GE Vernova recently announced a quarterly $0.25 dividend, reflecting an annualized dividend yield of 0.2% and a payout ratio of 24.10%.

Scientech Research LLC grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,391 shares of the company's stock after purchasing an additional 880 shares during the quarter. Scientech Research LLC's holdings in GE Vernova were worth $1,340,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the period. American Assets Inc. acquired a new position in GE Vernova in the 4th quarter valued at about $658,000. Fred Alger Management LLC acquired a new position in GE Vernova in the 4th quarter valued at about $3,256,000. Ethic Inc. acquired a new position in GE Vernova in the 4th quarter valued at about $4,601,000. Finally, Ensign Peak Advisors Inc boosted its holdings in GE Vernova by 23.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 115,657 shares of the company's stock valued at $38,043,000 after purchasing an additional 21,853 shares during the last quarter.

GE Vernova Stock Down 1.4%

GE Vernova stock traded down $8.90 during trading on Thursday, reaching $634.66. The stock had a trading volume of 2,445,430 shares, compared to its average volume of 3,506,471. GE Vernova Inc. has a 52-week low of $199.65 and a 52-week high of $677.29. The business has a 50 day moving average price of $604.12 and a 200 day moving average price of $462.85. The stock has a market cap of $172.77 billion, a PE ratio of 152.75, a P/E/G ratio of 4.19 and a beta of 1.87.

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, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The firm'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, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America increased their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price for the company. in a research note on Monday, July 28th. Barclays increased their target price on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $573.75.

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.