Greatmark Investment Partners Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 595 shares of the company's stock, valued at approximately $315,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of GEV. Sachetta LLC grew its position in GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company's stock valued at $87,000 after purchasing an additional 16 shares during the period. Highline Wealth Partners LLC lifted its stake in shares of GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after buying an additional 18 shares in the last quarter. Atlas Brown Inc. grew its holdings in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after buying an additional 19 shares during the last quarter. Princeton Global Asset Management LLC increased its position in shares of GE Vernova by 14.4% during the second quarter. Princeton Global Asset Management LLC now owns 151 shares of the company's stock worth $80,000 after acquiring an additional 19 shares in the last quarter. Finally, Physician Wealth Advisors Inc. increased its position in shares of GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock worth $128,000 after acquiring an additional 20 shares in the last quarter.
Insider Activity
In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company's stock.
GE Vernova Stock Performance
Shares of GEV opened at $585.12 on Wednesday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The stock's 50-day simple moving average is $613.83 and its 200 day simple moving average is $524.82. The stock has a market capitalization of $159.28 billion, a price-to-earnings ratio of 140.99, a price-to-earnings-growth ratio of 4.30 and a beta of 1.72.
GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.97 billion during the quarter, compared to analysts' expectations of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio is 24.10%.
Analysts Set New Price Targets
A number of research firms have issued reports on GEV. Weiss Ratings reiterated a "hold (c)" rating on shares of GE Vernova in a research note on Wednesday, October 8th. TD Cowen upped their price target on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Susquehanna increased their price target on GE Vernova from $736.00 to $740.00 and gave the company a "positive" rating in a research report on Monday, October 13th. Citigroup lifted their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets increased their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $601.44.
Read Our Latest Stock Report on GE Vernova
About GE Vernova
(
Free Report)
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.
Further Reading
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