U S Global Investors Inc. Invests $1.06 Million in GE Vernova Inc. $GEV

U S Global Investors Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $1,058,000.

Several other institutional investors also recently bought and sold shares of GEV. AQR Capital Management LLC boosted its holdings in GE Vernova by 252.9% during the 1st 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 holdings in GE Vernova by 109.0% during 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 holdings in GE Vernova by 10,044.9% during the 2nd 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 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 valued at $282,946,000 after acquiring an additional 799,388 shares during the period. Finally, Nuveen LLC purchased a new stake in GE Vernova during the 1st quarter valued at about $223,556,000.

Insider Activity

In other 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Robert W. Baird increased their target price on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price target on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Morgan Stanley upped their price target on GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Melius Research set a $740.00 price target on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $598.50.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $606.30 on Friday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The firm has a market capitalization of $165.05 billion, a P/E ratio of 146.10, a P/E/G ratio of 4.61 and a beta of 1.72. The stock has a 50 day moving average price of $619.64 and a 200-day moving average price of $508.47.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given 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%.

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.