QRG Capital Management Inc. Has $34.58 Million Stock Holdings in GE Vernova Inc. $GEV

QRG Capital Management Inc. grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 80.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 65,345 shares of the company’s stock after acquiring an additional 29,208 shares during the quarter. QRG Capital Management Inc.’s holdings in GE Vernova were worth $34,577,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GEV. AQR Capital Management LLC grew its stake in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after buying an additional 892,549 shares in the last quarter. Amundi lifted its holdings in shares of GE Vernova by 109.0% during 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 period. Assenagon Asset Management S.A. boosted its position in shares of GE Vernova by 10,044.9% during 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 in the last quarter. TD Asset Management Inc increased its stake in 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 acquiring an additional 799,388 shares during the last quarter. Finally, Nuveen LLC bought a new position in GE Vernova in the first quarter valued at approximately $223,556,000.

GE Vernova Price Performance

GE Vernova stock opened at $595.07 on Friday. The business has a 50 day moving average of $623.21 and a 200-day moving average of $498.89. The company has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a P/E/G ratio of 4.42 and a beta of 1.72. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm 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%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. TD Cowen upped their target price on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research report on Saturday, September 27th. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research note on Monday, September 15th. Finally, Jefferies Financial Group upped their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $598.50.

Insider Activity at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

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.