Draper Asset Management LLC Makes New $1.56 Million Investment in GE Vernova Inc. $GEV

Draper Asset Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,997 shares of the company’s stock, valued at approximately $1,557,000. GE Vernova comprises approximately 1.0% of Draper Asset Management LLC’s holdings, making the stock its 13th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in GEV. AQR Capital Management LLC boosted its stake in GE Vernova by 252.9% in the 1st 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 boosted its stake in GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. boosted 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 buying an additional 834,129 shares during the last quarter. TD Asset Management Inc boosted 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 buying an additional 799,388 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of GE Vernova in the 1st quarter valued at about $223,556,000.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $594.45 on Friday. The company has a market cap of $161.82 billion, a P/E ratio of 96.82, a PEG ratio of 4.17 and a beta of 1.72. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The business’s 50-day simple moving average is $612.04 and its 200 day simple moving average is $527.31.

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

GE Vernova Announces Dividend

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

Insider Transactions at GE Vernova

In other GE Vernova 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 directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GEV shares. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Bank of America lifted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Glj Research lifted their price objective on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. TD Cowen reduced 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. Finally, UBS Group set a $710.00 price objective on GE Vernova in a research note on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price 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.