408 Shares in GE Vernova Inc. $GEV Acquired by Callahan Advisors LLC

Key Points

• Callahan Advisors LLC acquired 408 shares of GE Vernova Inc. valued at approximately $216,000 in the second quarter.
• Despite mixed analyst ratings, GE Vernova has an average rating of "Moderate Buy" with a consensus target price of $592.07.
• The company declared a quarterly dividend of $0.25, representing an annual yield of 0.2%, to be paid on November 17th.

Callahan Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 408 shares of the company's stock, valued at approximately $216,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Highline Wealth Partners LLC raised its position in shares of GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after purchasing an additional 18 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in GE Vernova during the 2nd quarter valued at about $37,000. IMA Advisory Services Inc. purchased a new position in GE Vernova in the first quarter worth about $27,000. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the first quarter worth approximately $27,000. Finally, West Branch Capital LLC grew its holdings in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after buying an additional 20 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GEV. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the stock a "sector perform" rating in a report on Wednesday, October 1st. Jefferies Financial Group boosted their price target on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research note on Friday, September 12th. TD Cowen increased their price objective on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Rothschild & Co Redburn reiterated a "sell" rating and issued a $475.00 price objective on shares of GE Vernova in a report on Wednesday. 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 assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $592.07.

GE Vernova Stock Performance

GE Vernova stock opened at $617.78 on Thursday. The stock has a market cap of $168.17 billion, a PE ratio of 148.86, a price-to-earnings-growth ratio of 4.67 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 stock has a fifty day moving average of $618.29 and a 200 day moving average of $515.27.

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

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

GE Vernova Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.