491 Shares in GE Vernova Inc. $GEV Acquired by Parkside Investments LLC

Key Points

• Parkside Investments LLC acquired 491 shares of GE Vernova Inc. (NYSE:GEV), valued at approximately $260,000, during the second quarter.
• Analysts have varied ratings on GE Vernova, with Jefferies raising the target price to $668.00 and Melius upgrading from hold to buy with a price objective of $740.00.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, with an ex-dividend date set for October 20th, representing an annualized yield of 0.2%.

Parkside Investments LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 491 shares of the company's stock, valued at approximately $260,000.

A number of other institutional investors have also made changes to their positions in GEV. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter valued at $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC acquired a new stake in shares of GE Vernova during the 1st quarter worth $31,000. Finally, Saudi Central Bank acquired a new stake in shares of GE Vernova during the 1st quarter worth $33,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GEV shares. Jefferies Financial Group increased their target price on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective on the stock in a research note on Monday, September 15th. Barclays raised their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Price Performance

Shares of GEV opened at $600.66 on Tuesday. GE Vernova Inc. has a 1 year low of $248.50 and a 1 year high of $677.29. The company has a market capitalization of $163.51 billion, a price-to-earnings ratio of 144.74, a price-to-earnings-growth ratio of 4.41 and a beta of 1.88. The business has a 50-day moving average of $623.69 and a 200-day moving average of $493.48.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the company earned $4.65 earnings per share. The firm's revenue was up 11.1% 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 firm 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 $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 payout ratio is presently 24.10%.

Insiders Place Their Bets

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 value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

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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