550 Shares in GE Vernova Inc. $GEV Bought by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management Inc. acquired 550 shares of GE Vernova Inc. valued at approximately $291,000 in the second quarter.
• GE Vernova recently reported earnings of $1.86 EPS, surpassing analyst expectations, with revenue for the quarter totaling $9.11 billion, up 11.1% from the previous year.
• The company declared a quarterly dividend of $0.25, with an annualized total of $1.00 and a dividend yield of 0.2%, set to be paid on November 17th.

Cidel Asset Management Inc. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 550 shares of the company's stock, valued at approximately $291,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GEV. Vanguard Group Inc. grew its holdings in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after buying an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake 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 buying an additional 367,150 shares during the last quarter. Wellington Management Group LLP raised its holdings 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 worth $619,703,000 after buying an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of 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 buying an additional 622,730 shares during the period.

GE Vernova Price Performance

NYSE:GEV opened at $599.62 on Monday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a 50-day moving average of $616.42 and a 200 day moving average of $522.14. The firm has a market cap of $163.23 billion, a PE ratio of 144.49, a price-to-earnings-growth ratio of 4.34 and a beta of 1.72.

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

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays boosted their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Melius Research set a $740.00 target price on shares of GE Vernova and gave the company a "buy" rating in a research note on Monday, September 15th. Rothschild Redb cut shares of GE Vernova from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 15th. Glj Research boosted their price objective on shares of GE Vernova from $702.00 to $758.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $592.61.

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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