Frazier Financial Advisors LLC Increases Stake in GE Vernova Inc. $GEV

Frazier Financial Advisors LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 95.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 186 shares of the company’s stock after acquiring an additional 91 shares during the period. Frazier Financial Advisors LLC’s holdings in GE Vernova were worth $98,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. AQR Capital Management LLC increased its position in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after buying an additional 892,549 shares during the period. Amundi increased its holdings 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 stake 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 worth $445,773,000 after purchasing an additional 834,129 shares during the period. TD Asset Management Inc grew its position in 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 purchasing an additional 799,388 shares during the last quarter. Finally, Nuveen LLC purchased a new position in GE Vernova during the 1st quarter worth $223,556,000.

GE Vernova Stock Up 7.1%

NYSE:GEV opened at $647.23 on Tuesday. The company has a market capitalization of $176.19 billion, a PE ratio of 155.96, a price-to-earnings-growth ratio of 4.38 and a beta of 1.72. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The stock has a fifty day simple moving average of $619.32 and a 200-day simple moving average of $513.65.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the business earned $4.65 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current 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 given a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their price objective 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 raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a report on Monday, September 15th. Robert W. Baird upped 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. Finally, Citigroup boosted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $598.65.

GE Vernova 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.