WT Asset Management Ltd Takes Position in GE Vernova Inc. $GEV

Key Points

• WT Asset Management Ltd has acquired a new stake in GE Vernova Inc. valued at approximately $39.97 million, representing 2.8% of its investment portfolio.
• Several institutional investors, including AQR Capital Management and Assenagon Asset Management, significantly increased their positions in GE Vernova, indicating growing institutional interest in the company.
• GE Vernova recently announced a quarterly dividend of $0.25 per share with an annualized yield of 0.2%, reflecting a stable return for investors.

WT Asset Management Ltd bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 75,528 shares of the company's stock, valued at approximately $39,966,000. GE Vernova comprises 2.8% of WT Asset Management Ltd's investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in GEV. AQR Capital Management LLC grew 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 purchasing an additional 892,549 shares during the last quarter. Amundi grew 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 purchasing an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. grew 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 purchasing an additional 834,129 shares during the last quarter. TD Asset Management Inc grew 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 purchasing an additional 799,388 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in GE Vernova during the first quarter worth approximately $223,556,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on 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 transaction, the chief financial officer directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GEV shares. Susquehanna increased their price target on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Citigroup increased their price target on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research report on Monday, July 28th. TD Cowen increased 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. Finally, Glj Research started coverage on GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $598.50.

GE Vernova Price Performance

NYSE GEV opened at $595.07 on Friday. The business has a fifty day moving average price of $623.21 and a two-hundred day moving average price of $498.89. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a market capitalization of $161.99 billion, a PE ratio of 143.39, a PEG ratio of 4.42 and a beta of 1.72.

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

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio is presently 24.10%.

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.

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