1,262 Shares in GE Vernova Inc. $GEV Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,262 shares of the company’s stock, valued at approximately $667,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GEV. AQR Capital Management LLC grew its position 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 boosted its holdings in shares of GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after purchasing an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after purchasing an additional 834,129 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of GE Vernova in the 1st quarter worth about $223,556,000.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of the transaction, the chief financial officer owned 7,590 shares of the company’s stock, 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 the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upped 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 lowered GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Susquehanna boosted their target price on GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Mizuho lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price for the company. in a research note on Monday, July 28th. Finally, Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Four investment 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Price Performance

GEV opened at $606.24 on Wednesday. The business has a 50 day simple moving average of $621.76 and a two-hundred day simple moving average of $503.77. The firm has a market capitalization of $165.03 billion, a price-to-earnings ratio of 146.08, a PEG ratio of 4.39 and a beta of 1.72. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) 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 analyst estimates of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. 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 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date of this dividend 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%.

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.