Andra AP fonden Makes New $595,000 Investment in GE Vernova Inc. $GEV

Andra AP fonden purchased a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,125 shares of the company’s stock, valued at approximately $595,000.

Several other hedge funds also recently made changes to their positions in GEV. Sachetta LLC boosted its stake in GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after purchasing an additional 16 shares during the period. AMG National Trust Bank increased its position in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after buying an additional 17 shares during the period. Highline Wealth Partners LLC lifted its holdings in shares of GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after buying an additional 18 shares in the last quarter. Atlas Brown Inc. boosted its position in shares of GE Vernova by 0.8% in the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after acquiring an additional 19 shares during the period. Finally, Princeton Global Asset Management LLC boosted its position in shares of GE Vernova by 14.4% in the second quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock valued at $80,000 after acquiring an additional 19 shares during the period.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction 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 owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. TD Cowen decreased their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Wells Fargo & Company boosted their target price on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a research report on Monday, September 15th. Finally, Robert W. Baird boosted their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Trading Up 4.6%

GEV opened at $575.61 on Friday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The business’s 50-day moving average price is $602.58 and its 200-day moving average price is $549.85. The company has a market cap of $156.18 billion, a P/E ratio of 93.75, a P/E/G ratio of 4.28 and a beta of 1.68.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the business earned ($0.35) earnings per share. 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. Equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share 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. Investors of record on Monday, October 20th will be paid 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 payout ratio is presently 16.29%.

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.