Avior Wealth Management LLC Lowers Holdings in GE Vernova Inc. $GEV

Key Points

• Avior Wealth Management LLC has reduced its holdings in GE Vernova Inc. by 73.7%, now owning only 891 shares valued at $472,000 after selling 2,502 shares in the second quarter.
• GE Vernova recently reported an earnings per share (EPS) of $1.86, surpassing estimates, with quarterly revenue rising by 11.1% year-over-year to $9.11 billion.
• The company has declared a quarterly dividend of $0.25 per share, set to be paid on November 17th, which represents a 0.2% dividend yield.

Avior Wealth Management LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 73.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 891 shares of the company's stock after selling 2,502 shares during the quarter. Avior Wealth Management LLC's holdings in GE Vernova were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC grew 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 worth $37,000 after purchasing an additional 18 shares during the period. Atlas Brown Inc. grew 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 worth $1,321,000 after purchasing an additional 19 shares during the period. Physician Wealth Advisors Inc. grew 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 worth $128,000 after purchasing an additional 20 shares during the period. West Branch Capital LLC grew 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 worth $52,000 after purchasing an additional 20 shares during the period. Finally, Grove Bank & Trust grew its holdings in shares of GE Vernova by 16.0% during the 2nd quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares during the period.

GE Vernova Stock Up 2.0%

Shares of GEV opened at $614.57 on Wednesday. The business's 50 day moving average is $625.00 and its two-hundred day moving average is $494.32. GE Vernova Inc. has a 52-week low of $248.50 and a 52-week high of $677.29. The firm has a market cap of $167.30 billion, a price-to-earnings ratio of 148.09, a PEG ratio of 4.39 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $8.78 billion. During the same period in the prior year, the company posted $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova's dividend payout ratio is currently 24.10%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on GEV shares. Wells Fargo & Company boosted their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Glj Research started coverage on GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. UBS Group started coverage on GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America boosted their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

Insider Activity

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 transaction of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company's stock.

About GE Vernova

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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