Abacus Planning Group Inc. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 672 shares of the company's stock, valued at approximately $356,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Highline Wealth Partners LLC raised its stake in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after acquiring an additional 18 shares during the period. Atlas Brown Inc. increased its stake in shares of GE Vernova by 0.8% in the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after purchasing an additional 19 shares during the period. Physician Wealth Advisors Inc. increased its stake in shares of GE Vernova by 9.0% in the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after purchasing an additional 20 shares during the period. West Branch Capital LLC increased its stake in shares of GE Vernova by 25.6% in the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after purchasing an additional 20 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of GE Vernova by 16.0% in the second quarter. Grove Bank & Trust now owns 167 shares of the company's stock valued at $88,000 after purchasing an additional 23 shares during the period.
Wall Street Analysts Forecast Growth
GEV has been the topic of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Robert W. Baird raised their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group raised their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research note on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $598.50.
Get Our Latest Report on GEV
Insiders Place Their Bets
In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm'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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.15% of the company's stock.
GE Vernova Price Performance
GE Vernova stock opened at $606.80 on Friday. The firm has a 50 day simple moving average of $624.20 and a 200-day simple moving average of $496.99. The stock has a market capitalization of $165.18 billion, a PE ratio of 146.22, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $250.89 and a 12-month high of $677.29.
GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is presently 24.10%.
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.
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