Atlas Wealth LLC Invests $315,000 in GE Vernova Inc. $GEV

Atlas Wealth LLC bought a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel reports. The firm bought 623 shares of the company’s stock, valued at approximately $315,000.

A number of other hedge funds have also recently modified their holdings of GEV. AQR Capital Management LLC boosted its stake in shares of GE Vernova by 252.9% in 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 during the last quarter. Amundi boosted its stake in shares of GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of GE Vernova by 10,044.9% in the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after buying an additional 834,129 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after buying an additional 799,388 shares during the last quarter. Finally, Nuveen LLC acquired a new position in GE Vernova in the 1st quarter worth about $223,556,000.

Insider Activity at GE Vernova

In related 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $547.41 on Wednesday. The business has a 50 day simple moving average of $606.31 and a two-hundred day simple moving average of $546.36. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The stock has a market capitalization of $148.52 billion, a P/E ratio of 89.16, a PEG ratio of 4.32 and a beta of 1.68.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the company earned ($0.35) EPS. GE Vernova’s revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend 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 16.29%.

Wall Street Analyst Weigh In

GEV has been the subject of a number of analyst reports. Robert W. Baird upped their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Citigroup reduced their price target on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Melius Research set a $740.00 price target on GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $607.81.

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.