Asio Capital LLC Buys 685 Shares of GE Vernova Inc. $GEV

Asio Capital LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,941 shares of the company’s stock after purchasing an additional 685 shares during the quarter. GE Vernova makes up 1.4% of Asio Capital LLC’s investment portfolio, making the stock its 21st largest position. Asio Capital LLC’s holdings in GE Vernova were worth $8,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in GEV. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the 1st quarter valued at about $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 53 shares during the last quarter. 1248 Management LLC bought a new stake in shares of GE Vernova during the 1st quarter valued at about $31,000. Finally, Saudi Central Bank bought a new stake in shares of GE Vernova during the 1st quarter valued at about $33,000.

GE Vernova Price Performance

NYSE:GEV opened at $600.66 on Tuesday. The business has a 50 day moving average of $623.69 and a 200 day moving average of $493.48. The company has a market capitalization of $163.51 billion, a price-to-earnings ratio of 144.74, a PEG ratio of 4.41 and a beta of 1.88. GE Vernova Inc. has a 1-year low of $248.50 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV) last announced 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. The business had revenue of $9.11 billion for 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%.The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is 24.10%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research analyst reports. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. HSBC lifted their price target on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Citigroup lifted their price target on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Barclays lifted their price target on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $592.35.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 $4,705,800. The trade was a 30.30% decrease in their position. The sale 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.

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.