Beacon Investment Advisory Services Inc. Purchases Shares of 1,242 GE Vernova Inc. $GEV

Key Points

• Beacon Investment Advisory Services Inc. acquired 1,242 shares of GE Vernova Inc. (NYSE: GEV) valued at approximately $657,000 during the second quarter.
• Several large investors, including EQ Wealth Advisors LLC and Saudi Central Bank, have also made new stakes in GE Vernova, reflecting increased interest in the company.
• GE Vernova recently reported quarterly earnings of $1.86 per share, beating estimates, and announced a quarterly dividend of $0.25 per share, with a dividend yield of 0.2%.

Beacon Investment Advisory Services Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,242 shares of the company's stock, valued at approximately $657,000.

Several other large investors have also made changes to their positions in GEV. EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the 1st quarter valued at approximately $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the first quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares during the period. 1248 Management LLC acquired a new stake in shares of GE Vernova in the first quarter worth $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova during the first quarter worth $33,000.

Insider Activity

In other 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 sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GEV. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a research note on Monday, September 15th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Bank of America upped their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova Stock Down 3.5%

Shares of GEV opened at $606.80 on Friday. The stock has a market cap of $165.18 billion, a price-to-earnings ratio of 146.22, a P/E/G ratio of 4.58 and a beta of 1.87. GE Vernova Inc. has a 12 month low of $247.07 and a 12 month high of $677.29. The company has a 50-day moving average price of $622.39 and a two-hundred day moving average price of $486.60.

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 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. The company's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

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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