GE Vernova Inc. $GEV Shares Acquired by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP increased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 10.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,702 shares of the company’s stock after buying an additional 798 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in GE Vernova were worth $4,605,000 at the end of the most recent quarter.

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

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Trading Down 0.3%

Shares of GE Vernova stock opened at $576.48 on Tuesday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The company’s fifty day simple moving average is $600.40 and its 200-day simple moving average is $559.92. The company has a market cap of $156.41 billion, a price-to-earnings ratio of 93.89, a PEG ratio of 4.30 and a beta of 1.69.

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 during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the prior year, the business earned ($0.35) earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, 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 declared a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 16.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GEV. Citigroup decreased their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. UBS Group set a $710.00 price target on GE Vernova in a research note on Thursday, October 23rd. TD Cowen cut their price objective 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. BMO Capital Markets boosted their target price on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada increased their price target on GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

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.