Armstrong Fleming & Moore Inc Takes $673,000 Position in GE Vernova Inc. $GEV

Armstrong Fleming & Moore Inc acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,272 shares of the company's stock, valued at approximately $673,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sachetta LLC lifted its holdings in shares of GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company's stock valued at $87,000 after buying an additional 16 shares during the last quarter. Highline Wealth Partners LLC lifted its holdings in shares of GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after buying an additional 18 shares during the last quarter. Atlas Brown Inc. lifted its holdings in shares of GE Vernova by 0.8% during the 2nd 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. Physician Wealth Advisors Inc. lifted its holdings in shares of GE Vernova by 9.0% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after buying an additional 20 shares during the last quarter. Finally, West Branch Capital LLC lifted its holdings in shares of GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after buying an additional 20 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GEV. Robert W. Baird lifted their price target on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group boosted their target price on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Barclays boosted their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Finally, Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $598.50.

GE Vernova Stock Up 3.2%

GE Vernova stock opened at $625.47 on Thursday. The business's 50-day simple moving average is $621.18 and its 200 day simple moving average is $504.60. The stock has a market cap of $170.27 billion, a price-to-earnings ratio of 150.72, a P/E/G ratio of 4.41 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $4.65 earnings per share. 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 year.

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents 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.

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.

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.