Zimmer Partners LP Increases Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Zimmer Partners LP has significantly increased its holdings in GE Vernova Inc. by 897.2%, owning 179,500 shares valued at approximately $54.8 million, making it the firm’s 27th largest investment.
• GE Vernova reported a quarterly earnings per share (EPS) of $1.86, exceeding estimates by $0.23, with revenues of $9.11 billion, reflecting an 11.1% year-over-year increase.
• The company declared a quarterly dividend of $0.25, which represents an annualized yield of 0.2%, with a payout ratio of 24.10%.

Zimmer Partners LP increased its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 897.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,500 shares of the company's stock after purchasing an additional 161,500 shares during the period. GE Vernova makes up approximately 1.0% of Zimmer Partners LP's portfolio, making the stock its 27th biggest holding. Zimmer Partners LP owned approximately 0.07% of GE Vernova worth $54,798,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of GE Vernova by 29.4% during 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. purchased a new position in GE Vernova during the fourth quarter valued at $658,000. Focus Partners Wealth increased its holdings in shares of GE Vernova by 18.3% during the fourth quarter. Focus Partners Wealth now owns 34,166 shares of the company's stock valued at $11,754,000 after acquiring an additional 5,283 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of GE Vernova by 0.4% during the fourth quarter. Janus Henderson Group PLC now owns 33,013 shares of the company's stock valued at $10,867,000 after acquiring an additional 132 shares in the last quarter. Finally, Interval Partners LP increased its holdings in shares of GE Vernova by 35.7% during the fourth quarter. Interval Partners LP now owns 3,585 shares of the company's stock valued at $1,179,000 after acquiring an additional 944 shares in the last quarter.

GE Vernova Trading Up 3.0%

NYSE GEV opened at $599.57 on Tuesday. The stock's 50 day moving average is $599.34 and its 200 day moving average is $460.59. GE Vernova Inc. has a 12 month low of $197.38 and a 12 month high of $677.29. The stock has a market cap of $163.22 billion, a PE ratio of 144.48, a P/E/G ratio of 4.02 and a beta of 1.88.

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, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the firm earned $4.65 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on GEV shares. The Goldman Sachs Group lifted their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. BMO Capital Markets boosted their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. HSBC boosted their price target on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research note on Friday. Finally, Morgan Stanley lifted their price objective on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $573.75.

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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