Advance Capital Management Inc. Invests $237,000 in GE Vernova Inc. $GEV

Key Points

• Advance Capital Management Inc. invested approximately $237,000 in GE Vernova Inc., acquiring 447 shares in the second quarter.
• Insider activity included CFO Kenneth Scott Parks selling 3,300 shares valued at over $2 million, resulting in a 30.30% decrease in his position.
• GE Vernova reported impressive quarterly earnings with an EPS of $1.86, outperforming analysts' expectations and a revenue increase of 11.1% year-over-year.

Advance Capital Management Inc. acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 447 shares of the company's stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hickory Point Bank & Trust purchased a new stake in GE Vernova in the second quarter valued at approximately $257,000. Cultivar Capital Inc. acquired a new stake in GE Vernova in the second quarter valued at $315,000. Parallel Advisors LLC boosted its stake in shares of GE Vernova by 14.8% during the second quarter. Parallel Advisors LLC now owns 8,271 shares of the company's stock valued at $4,377,000 after acquiring an additional 1,067 shares during the last quarter. Wealth Alliance Advisory Group LLC acquired a new stake in shares of GE Vernova during the second quarter valued at $265,000. Finally, Park Edge Advisors LLC boosted its stake in GE Vernova by 15.8% in the 2nd quarter. Park Edge Advisors LLC now owns 2,484 shares of the company's stock worth $1,314,000 after buying an additional 338 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $625.99 on Monday. The business's fifty day moving average price is $608.65 and its two-hundred day moving average price is $469.09. The company has a market capitalization of $170.41 billion, a P/E ratio of 150.84, a PEG ratio of 4.32 and a beta of 1.88. GE Vernova Inc. has a 1-year low of $219.01 and a 1-year 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 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 for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the business earned $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. On average, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were paid 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 of this dividend was Monday, July 21st. GE Vernova's payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GEV shares. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Robert W. Baird lifted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company lifted their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $580.04.

GE Vernova Company 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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