Bar Harbor Wealth Management Invests $275,000 in GE Vernova Inc. $GEV

Key Points

• Bar Harbor Wealth Management invested $275,000 in GE Vernova Inc. during Q2 by purchasing 520 shares.
• GE Vernova's stock recently opened at $634.08 and has shown strong performance with a 12-month high of $677.29 and quarterly earnings exceeding analysts' estimates.
• The company announced a quarterly dividend of $0.25, to be paid on November 17th, representing an annualized yield of 0.2% based on its payout ratio of 24.10%.

Bar Harbor Wealth Management purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 520 shares of the company's stock, valued at approximately $275,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of GE Vernova during the 1st quarter valued at $912,000. Pines Wealth Management LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at $408,000. Resona Asset Management Co. Ltd. lifted its stake in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after buying an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova during the 1st quarter valued at $458,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after buying an additional 817 shares in the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

GE Vernova Stock Up 1.4%

GE Vernova stock opened at $634.08 on Friday. The company's 50-day moving average price is $620.64 and its 200-day moving average price is $506.61. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a market cap of $172.61 billion, a PE ratio of 152.79, a price-to-earnings-growth ratio of 4.55 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the previous year, the firm posted $4.65 EPS. The business'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, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price on the stock. in a research note on Monday, July 28th. JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets lifted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of GE Vernova in a report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $598.50.

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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