Axxcess Wealth Management LLC Buys 972 Shares of GE Vernova Inc. $GEV

Key Points

• Axxcess Wealth Management LLC increased its stake in GE Vernova Inc. by 17.3%, acquiring an additional 972 shares, bringing their total holdings to 6,591 shares valued at approximately $3.49 million.
• The company reported $1.86 earnings per share for the most recent quarter, surpassing estimates and reflecting an 11.1% year-over-year revenue growth to $9.11 billion.
• GE Vernova has announced a quarterly dividend of $0.25 per share to be paid on November 17, with an annualized yield of 0.2% and a payout ratio of 24.1%.

Axxcess Wealth Management LLC grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 17.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,591 shares of the company's stock after purchasing an additional 972 shares during the period. Axxcess Wealth Management LLC's holdings in GE Vernova were worth $3,488,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GEV. Vanguard Group Inc. boosted its stake in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after acquiring an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after acquiring an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in GE Vernova by 21.4% during 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 acquiring an additional 367,150 shares in the last quarter. Wellington Management Group LLP boosted its stake in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after acquiring an additional 622,730 shares in the last quarter.

GE Vernova Stock Down 0.6%

GEV opened at $644.54 on Wednesday. The firm has a 50 day moving average price of $619.21 and a 200-day moving average price of $514.56. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock has a market capitalization of $175.46 billion, a price-to-earnings ratio of 155.31, a PEG ratio of 4.69 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's payout ratio is 24.10%.

Analysts Set New Price Targets

GEV has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Bank of America boosted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Robert W. Baird boosted their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a report on Monday, September 15th. Finally, TD Cowen lifted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $598.65.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business'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. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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.

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