Empowered Funds LLC Acquires 12,251 Shares of GE Vernova Inc. $GEV

Empowered Funds LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 230.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,578 shares of the company’s stock after buying an additional 12,251 shares during the period. Empowered Funds LLC’s holdings in GE Vernova were worth $9,301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in shares of 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 increased its position in 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 purchasing an additional 868,927 shares during the period. Assenagon Asset Management S.A. increased its position in 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 purchasing an additional 834,129 shares during the period. TD Asset Management Inc raised its holdings in GE Vernova by 627.2% during 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 during the last quarter. Finally, Nuveen LLC acquired a new position in GE Vernova during the 1st quarter valued at about $223,556,000.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction 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. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

GEV has been the subject of several analyst reports. Morgan Stanley lifted their price target on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Melius Research set a $740.00 target price on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Robert W. Baird raised their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their target price on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Susquehanna increased their price objective on GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a report on Thursday, October 23rd. Four research 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’s stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Stock Down 3.9%

NYSE:GEV opened at $554.50 on Wednesday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm has a market capitalization of $150.45 billion, a price-to-earnings ratio of 90.31, a P/E/G ratio of 4.29 and a beta of 1.68. The stock’s 50 day moving average price is $599.38 and its two-hundred day moving average price is $561.03.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business 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 firm posted ($0.35) earnings per share. The firm’s revenue was up 11.8% 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 year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

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.