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

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after acquiring an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after purchasing an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after acquiring an additional 367,150 shares during the period. Wellington Management Group LLP increased its stake in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after buying an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GEV. Rothschild Redb lowered GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Citigroup reduced their price target on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Rothschild & Co Redburn reaffirmed a “sell” rating and issued a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Finally, UBS Group set a $710.00 price target on GE Vernova in a report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

GE Vernova Price Performance

GEV opened at $559.87 on Thursday. The firm has a market cap of $151.90 billion, a price-to-earnings ratio of 91.18, a PEG ratio of 4.08 and a beta of 1.68. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock’s 50 day simple moving average is $605.04 and its 200 day simple moving average is $546.45.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share 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 firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current 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 issued 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 16.29%.

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.