Fourpath Capital Management LLC Takes Position in GE Vernova Inc. $GEV

Fourpath Capital Management LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 571 shares of the company’s stock, valued at approximately $302,000.

A number of other hedge funds have also recently bought and sold shares of GEV. AQR Capital Management LLC boosted 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 acquiring an additional 892,549 shares during the last quarter. Amundi boosted its position in GE Vernova by 109.0% during the first 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 last quarter. Assenagon Asset Management S.A. boosted its position in GE Vernova by 10,044.9% during the second 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 during the last quarter. TD Asset Management Inc boosted its position in GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after acquiring an additional 799,388 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in GE Vernova during the first quarter worth approximately $223,556,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GEV. BMO Capital Markets raised their target price on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. UBS Group started coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a “buy” rating and a $614.00 price target on the stock. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, TD Cowen increased their price target on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned 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 a consensus target price of $598.50.

GE Vernova Trading Down 4.4%

Shares of GEV stock opened at $606.30 on Friday. The company’s fifty day simple moving average is $619.64 and its 200-day simple moving average is $508.47. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The company has a market cap of $165.05 billion, a PE ratio of 146.10, a P/E/G ratio of 4.61 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the firm posted $4.65 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

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.