Aspen Investment Management Inc Invests $267,000 in GE Vernova Inc. $GEV

Aspen Investment Management Inc purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 505 shares of the company’s stock, valued at approximately $267,000.

Several other large investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of GE Vernova during the first quarter valued at approximately $912,000. Pines Wealth Management LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. grew its stake in shares of GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after buying an additional 6,551 shares during the last quarter. Dupree Financial Group LLC bought a new position in GE Vernova during the 2nd quarter valued at approximately $253,000. Finally, Lockheed Martin Investment Management Co. bought a new position in GE Vernova during the 1st quarter valued at approximately $458,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Cowen cut their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Rothschild & Co Redburn reaffirmed a “sell” rating and issued a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Royal Bank Of Canada upped their target price on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $654.00 price target on shares of GE Vernova in a report on Monday, October 27th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Trading Down 3.9%

GEV opened at $554.50 on Wednesday. The company has a market cap of $150.45 billion, a price-to-earnings ratio of 90.31, a PEG ratio of 4.29 and a beta of 1.68. The company’s 50 day moving average is $599.38 and its 200 day moving average is $561.03. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the company posted ($0.35) earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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.