640 Shares in GE Vernova Inc. $GEV Bought by Westhampton Capital LLC

Key Points

• Westhampton Capital LLC acquired 640 shares of GE Vernova Inc. valued at approximately $339,000 in the second quarter, indicating growing institutional interest in the company.
• GE Vernova reported a 11.1% year-over-year increase in revenue for the quarter, reaching $9.11 billion, and exceeded earnings expectations by posting $1.86 EPS.
• The company's board declared a $0.25 quarterly dividend, to be paid on November 17th, reflecting a payout ratio of 24.10% and an annualized dividend yield of 0.2%.

Westhampton Capital LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 640 shares of the company's stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter worth $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova in the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake 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 buying an additional 53 shares during the last quarter. 1248 Management LLC bought a new position in shares of GE Vernova in the 1st quarter valued at about $31,000. Finally, Saudi Central Bank bought a new position in shares of GE Vernova in the 1st quarter valued at about $33,000.

GE Vernova Stock Down 0.7%

Shares of GEV stock opened at $600.66 on Tuesday. The firm has a 50 day moving average price of $623.69 and a two-hundred day moving average price of $493.48. The company has a market capitalization of $163.51 billion, a PE ratio of 144.74, a price-to-earnings-growth ratio of 4.41 and a beta of 1.88. GE Vernova Inc. has a 12-month low of $248.50 and a 12-month high of $677.29.

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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company 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 earned $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, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

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

Wall Street Analysts Forecast Growth

GEV has been the subject of several analyst reports. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective for the company. Barclays raised 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. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a report on Monday, July 28th. Finally, Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

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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