Virtus Wealth Solutions LLC Invests $1.25 Million in GE Vernova Inc. $GEV

Key Points

• Virtus Wealth Solutions LLC invested approximately $1.25 million in GE Vernova Inc., acquiring 2,365 shares of the company's stock.
• AQR Capital Management significantly increased its stake in GE Vernova by 252.9%, owning over 1.24 million shares valued at approximately $366 million.
• GE Vernova plans to pay a $0.25 quarterly dividend on November 17th, resulting in an annualized dividend yield of 0.2%.

Virtus Wealth Solutions LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,365 shares of the company's stock, valued at approximately $1,252,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC boosted its position in shares of GE Vernova by 252.9% in the 1st 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 raised its holdings in GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock worth $496,013,000 after acquiring an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company's stock worth $445,773,000 after acquiring an additional 834,129 shares during the last quarter. TD Asset Management Inc raised its holdings in GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after acquiring an additional 799,388 shares during the last quarter. Finally, Nuveen LLC purchased a new position in GE Vernova in the 1st quarter worth approximately $223,556,000.

Insider Activity at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of GE Vernova in a research note on Saturday, September 27th. Royal Bank Of Canada set a $605.00 target price on shares of GE Vernova and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Glj Research assumed coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $598.50.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $606.24 on Wednesday. The company has a market capitalization of $165.03 billion, a P/E ratio of 146.08, a P/E/G ratio of 4.39 and a beta of 1.72. The company has a fifty day moving average of $621.76 and a 200 day moving average of $503.77. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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