466 Shares in GE Vernova Inc. $GEV Bought by Gemmer Asset Management LLC

Key Points

• Gemmer Asset Management LLC acquired 466 shares of GE Vernova Inc. valued at approximately $247,000 during Q2, as part of increased institutional interest in the company.
• Several analysts have raised their price targets on GE Vernova, with Goldman Sachs increasing its target from $500 to $570, indicating a positive outlook for the stock.
• GE Vernova announced a quarterly dividend of $0.25 per share, which will be paid on November 17, representing a yield of 0.2% and a payout ratio of 24.10%.

Gemmer Asset Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 466 shares of the company's stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Caitong International Asset Management Co. Ltd acquired a new stake in GE Vernova in the first quarter valued at about $912,000. Pines Wealth Management LLC acquired a new stake in GE Vernova in the second quarter valued at about $408,000. Resona Asset Management Co. Ltd. boosted its stake 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 valued at $26,229,000 after buying an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in GE Vernova in the first quarter valued at about $458,000. Finally, Golden State Wealth Management LLC boosted its stake in GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after buying an additional 817 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GEV. The Goldman Sachs Group raised their price objective on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. BMO Capital Markets raised their price objective on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note 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, Melius Research set a $740.00 price objective on GE Vernova and gave the stock a "buy" rating in a research report on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $598.50.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated 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 transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company's stock.

GE Vernova Trading Down 1.8%

Shares of GEV opened at $595.07 on Friday. The company has a market capitalization of $161.99 billion, a PE ratio of 143.39, a PEG ratio of 4.34 and a beta of 1.72. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The stock's 50-day moving average price is $623.21 and its two-hundred day moving average price is $500.03.

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

GE Vernova Dividend Announcement

The business also recently announced 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 of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

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.

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