United Services Automobile Association Takes Position in GE Vernova Inc. $GEV

Key Points

• United Services Automobile Association acquired a new position in GE Vernova Inc., purchasing 6,324 shares valued at approximately $1.9 million.
• Significant institutional investment is evident as major firms like Vanguard and Goldman Sachs have increased their stakes in GE Vernova by a total of billions, reflecting strong confidence in the company.
• GE Vernova recently reported a quarterly earnings per share (EPS) of $1.86, exceeding analyst expectations of $1.63, and announced a quarterly dividend of $0.25.

United Services Automobile Association purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,324 shares of the company's stock, valued at approximately $1,916,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. boosted its position in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Glj Research initiated coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating for the company. TD Cowen boosted their price target on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average target price of $573.75.

GE Vernova Trading Down 2.8%

GE Vernova stock opened at $581.92 on Monday. GE Vernova Inc. has a twelve month low of $193.38 and a twelve month high of $677.29. The stock has a 50 day moving average of $597.95 and a two-hundred day moving average of $458.69. The stock has a market capitalization of $158.41 billion, a price-to-earnings ratio of 140.22, a PEG ratio of 4.02 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm 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%.GE Vernova's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm 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. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend 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.

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