GE Vernova Inc. $GEV Shares Bought by OFI Invest Asset Management

OFI Invest Asset Management raised its stake in GE Vernova Inc. (NYSE:GEV) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,226 shares of the company’s stock after acquiring an additional 241 shares during the period. OFI Invest Asset Management’s holdings in GE Vernova were worth $1,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GEV. AQR Capital Management LLC boosted its stake in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares during the period. Amundi boosted its stake in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after acquiring an additional 868,927 shares during the period. Assenagon Asset Management S.A. boosted its stake 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 valued at $445,773,000 after acquiring an additional 834,129 shares during the period. TD Asset Management Inc boosted 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 period. Finally, Nuveen LLC acquired a new position in GE Vernova in the first quarter valued at approximately $223,556,000.

Analyst Ratings Changes

GEV has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday. HSBC boosted their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Jefferies Financial Group boosted their price objective on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Citigroup boosted their price objective on GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Morgan Stanley boosted their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $598.50.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

GEV opened at $606.30 on Friday. The company has a market capitalization of $165.05 billion, a price-to-earnings ratio of 146.10, a price-to-earnings-growth ratio of 4.40 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. The business has a 50 day moving average price of $619.64 and a two-hundred day moving average price of $509.80.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.23% and a net margin of 3.16%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued 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.