Draper Asset Management LLC Makes New Investment in GE Vernova Inc. $GEV

Draper Asset Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,997 shares of the company’s stock, valued at approximately $1,557,000. GE Vernova comprises 1.0% of Draper Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding.

A number of other institutional investors have also made changes to their positions in GEV. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the 1st quarter valued at approximately $27,000. WFA Asset Management Corp bought a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 53 shares during the last quarter. 1248 Management LLC bought a new stake in shares of GE Vernova in the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank bought a new stake in shares of GE Vernova in the 1st quarter valued at approximately $33,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

Shares of GEV stock opened at $594.45 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock has a fifty day moving average of $612.04 and a two-hundred day moving average of $527.31. The firm has a market capitalization of $161.82 billion, a PE ratio of 96.82, a price-to-earnings-growth ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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 return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the firm posted ($0.35) EPS. 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. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is currently 24.10%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEV. Citigroup lowered their price target on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday. Susquehanna boosted their price objective on GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research report on Thursday. Morgan Stanley boosted their price objective on GE Vernova from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Jefferies Financial Group boosted their price objective on GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Finally, Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $607.48.

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.