Armbruster Capital Management Inc. Invests $291,000 in GE Vernova Inc. $GEV

Key Points

• Armbruster Capital Management Inc. has made a new investment in GE Vernova Inc., purchasing 549 shares valued at approximately $291,000 in the second quarter.
• GE Vernova reported a quarterly EPS of $1.86, exceeding analysts' expectations, and its revenue increased by 11.1% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.25, representing a 0.2% dividend yield, set to be paid on November 17th.

Armbruster Capital Management Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 549 shares of the company's stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after acquiring an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased 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 acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GE Vernova by 21.4% in 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 worth $634,984,000 after buying an additional 367,150 shares during the last quarter. Wellington Management Group LLP increased its position in 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 last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in 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 last quarter.

GE Vernova Price Performance

GEV opened at $606.24 on Wednesday. The business has a 50 day simple moving average of $621.76 and a two-hundred day simple moving average of $503.77. The firm has a market capitalization of $165.03 billion, a price-to-earnings ratio of 146.08, a PEG ratio of 4.39 and a beta of 1.72. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

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

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred 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 in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Susquehanna raised their target price on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. TD Cowen raised their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $598.50.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.