GE Vernova Inc. $GEV Shares Purchased by Klingman & Associates LLC

Klingman & Associates LLC increased its stake in GE Vernova Inc. (NYSE:GEV) by 8.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,273 shares of the company’s stock after purchasing an additional 172 shares during the period. Klingman & Associates LLC’s holdings in GE Vernova were worth $1,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GEV. AQR Capital Management LLC raised its holdings in shares of GE Vernova by 252.9% in 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 last quarter. Amundi increased 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. raised its stake in GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after acquiring an additional 834,129 shares during the last quarter. TD Asset Management Inc raised its stake in GE Vernova by 627.2% in 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 last quarter. Finally, Nuveen LLC acquired a new stake in GE Vernova during the 1st quarter worth about $223,556,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $594.46 on Tuesday. The stock has a market capitalization of $161.82 billion, a price-to-earnings ratio of 143.24, a PEG ratio of 4.34 and a beta of 1.72. The firm’s 50 day simple moving average is $615.29 and its 200-day simple moving average is $524.40. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (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 firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the previous year, the business posted $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. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 paid a dividend of $0.25 per share. 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 dividend payout ratio is presently 24.10%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated 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 in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GEV. Mizuho increased their price objective on GE Vernova from $670.00 to $677.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Citigroup upped their target price on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. BMO Capital Markets increased their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $601.44.

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.