Turtle Creek Wealth Advisors LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• Turtle Creek Wealth Advisors LLC acquired a new stake in GE Vernova Inc. in Q2, purchasing 693 shares valued at approximately $367,000, according to their latest SEC filing.
• Multiple hedge funds significantly increased their positions in GE Vernova, with Assenagon Asset Management raising its stake by 10,044.9%, resulting in ownership of 842,433 shares valued at $445.8 million.
• GE Vernova's stock received a strong-buy rating from Seaport Res Ptn and has a consensus price target of $592.61, reflecting investor optimism in the company's growth potential.

Turtle Creek Wealth Advisors LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 693 shares of the company's stock, valued at approximately $367,000.

A number of other hedge funds have also made changes to their positions in GEV. AQR Capital Management LLC increased its position in shares of GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after buying an additional 892,549 shares in the last quarter. Amundi increased its position in shares of GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after buying an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of 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 valued at $445,773,000 after buying an additional 834,129 shares in the last quarter. TD Asset Management Inc increased its position in shares of GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock valued at $282,946,000 after buying an additional 799,388 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in GE Vernova during the 1st quarter worth about $223,556,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GEV shares. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Redburn Partners set a $475.00 price target on shares of GE Vernova in a research note on Wednesday. Barclays raised their price target 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. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, BMO Capital Markets raised their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $592.61.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated 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 owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by company insiders.

GE Vernova Price Performance

GEV opened at $601.91 on Friday. The stock has a market capitalization of $163.85 billion, a price-to-earnings ratio of 145.04, a price-to-earnings-growth ratio of 4.46 and a beta of 1.72. The business has a 50-day moving average of $617.40 and a two-hundred day moving average of $517.31. 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 posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The company 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 was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research 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 will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is 24.10%.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.