Baker Tilly Wealth Management LLC Acquires Shares of 601 GE Vernova Inc. $GEV

Key Points

• Baker Tilly Wealth Management LLC acquired a new stake in GE Vernova Inc., purchasing 601 shares valued at approximately $318,000 in the second quarter.
• Analysts have raised their price targets for GE Vernova, with TD Cowen increasing it from $390.00 to $685.00, indicating a strong positive outlook for the company.
• GE Vernova recently announced a quarterly dividend of $0.25, representing an annualized dividend yield of 0.2%, with a payout ratio of 24.10%.

Baker Tilly Wealth Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 601 shares of the company's stock, valued at approximately $318,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. IMA Advisory Services Inc. bought a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. Orion Capital Management LLC acquired a new stake in GE Vernova during the fourth quarter worth about $30,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 53 shares in the last quarter. Finally, 1248 Management LLC acquired a new stake in shares of GE Vernova in the first quarter valued at approximately $31,000.

Analyst Ratings Changes

GEV has been the subject of several analyst reports. Susquehanna upped their target price on GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Morgan Stanley upped their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Glj Research assumed coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Finally, Bank of America raised their price target 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. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $592.35.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

GE Vernova Stock Performance

Shares of GEV traded up $13.61 during mid-day trading on Friday, hitting $624.61. 4,104,917 shares of the company traded hands, compared to its average volume of 2,689,348. GE Vernova Inc. has a 1 year low of $242.25 and a 1 year high of $677.29. The stock has a 50-day moving average price of $617.11 and a two-hundred day moving average price of $478.45. The stock has a market cap of $170.03 billion, a price-to-earnings ratio of 150.51, a P/E/G ratio of 4.55 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (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 firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the company earned $4.65 EPS. GE Vernova'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, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

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.