1834 Investment Advisors Co. Acquires New Shares in GE Vernova Inc. $GEV

Key Points

• 1834 Investment Advisors Co. recently acquired 577 shares of GE Vernova Inc. for approximately $305,000, marking its entry into the investment with the company during the second quarter.
• Wall Street analysts are optimistic about GE Vernova, with multiple firms issuing buy ratings and target prices significantly above the current stock price, indicating potential for growth.
• GE Vernova announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 0.2%, with a payout ratio of 24.10% and a record date of October 20th for shareholders.

1834 Investment Advisors Co. acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 577 shares of the company's stock, valued at approximately $305,000.

A number of other hedge funds have also recently made changes to their positions in the company. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the first quarter worth about $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova during the first quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 53 shares during the last quarter. 1248 Management LLC bought a new position in shares of GE Vernova during the first quarter worth about $31,000. Finally, Saudi Central Bank bought a new position in shares of GE Vernova during the first quarter worth about $33,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research analyst reports. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Morgan Stanley lifted their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup boosted their price objective on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Susquehanna boosted their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Finally, Barclays boosted their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova Stock Performance

NYSE:GEV opened at $605.21 on Friday. GE Vernova Inc. has a 52-week low of $248.50 and a 52-week high of $677.29. The firm has a market cap of $164.75 billion, a price-to-earnings ratio of 145.83, a PEG ratio of 4.41 and a beta of 1.87. The business's fifty day moving average is $622.99 and its 200 day moving average is $490.14.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio is currently 24.10%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

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.

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