Kingsman Wealth Management Inc. Buys Shares of 660 GE Vernova Inc. $GEV

Kingsman Wealth Management Inc. bought a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 660 shares of the company’s stock, valued at approximately $349,000.

Several other large investors have also modified their holdings of GEV. GAMMA Investing LLC lifted its position in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after acquiring an additional 2,135,066 shares during the period. AQR Capital Management LLC grew its stake in shares of GE Vernova by 252.9% during the 1st 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 in the last quarter. Amundi grew its position in shares of GE Vernova by 109.0% in the 1st 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 position 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 valued at $445,773,000 after acquiring an additional 834,129 shares during the period. Finally, TD Asset Management Inc lifted its holdings in shares of 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 acquiring an additional 799,388 shares during the period.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred on 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 directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

NYSE GEV opened at $606.80 on Friday. GE Vernova Inc. has a one year low of $247.07 and a one year high of $677.29. The stock has a 50-day moving average of $622.39 and a 200 day moving average of $486.60. The company has a market capitalization of $165.18 billion, a price-to-earnings ratio of 146.22, a PEG ratio of 4.58 and a beta of 1.87.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be 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 is Monday, October 20th. GE Vernova’s payout ratio is currently 24.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GEV shares. Bank of America lifted their target price on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Wells Fargo & Company lifted their target price on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. HSBC upped their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Finally, BMO Capital Markets increased their target price on GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $592.35.

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.