US Asset Management LLC Takes $277,000 Position in GE Vernova Inc. $GEV

US Asset Management LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 524 shares of the company’s stock, valued at approximately $277,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. raised its stake in GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after buying an additional 214,483 shares during the period. GAMMA Investing LLC raised its stake in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after buying an additional 2,135,066 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after buying an additional 367,150 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after purchasing an additional 684,794 shares during the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the subject of several analyst reports. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Mizuho downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective for the company. in a research note on Monday, July 28th. HSBC increased their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, UBS Group began coverage on GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective for the company. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $592.35.

Insider Activity

In other GE Vernova 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 transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Down 0.4%

GEV stock opened at $605.21 on Friday. The business has a 50 day moving average of $622.99 and a 200-day moving average of $488.82. GE Vernova Inc. has a 12-month low of $248.50 and a 12-month high of $677.29. The firm has a market cap of $164.75 billion, a PE ratio of 145.83, a P/E/G ratio of 4.43 and a beta of 1.87.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating 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 business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the company earned $4.65 earnings per share. GE Vernova’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, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 24.10%.

About GE Vernova

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.