BIP Wealth LLC Invests $382,000 in GE Vernova Inc. $GEV

Key Points

• BIP Wealth LLC has invested $382,000 in GE Vernova Inc. during the second quarter, purchasing 721 shares of the company's stock.
• Analyst ratings for GE Vernova are mixed, with Royal Bank of Canada increasing its target price to $630.00 while Rothschild Redb downgraded the stock to "strong sell."
• GE Vernova announced a quarterly dividend of $0.25 per share, which will be paid on November 17th, with an ex-dividend date of October 20th.

BIP Wealth LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 721 shares of the company's stock, valued at approximately $382,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. Focus Partners Advisor Solutions LLC lifted its position in GE Vernova by 18.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 6,988 shares of the company's stock valued at $3,695,000 after buying an additional 1,077 shares during the period. Fielder Capital Group LLC bought a new position in shares of GE Vernova in the 2nd quarter worth about $277,000. Peterson Wealth Services increased its stake in shares of GE Vernova by 31,533.3% in the 2nd quarter. Peterson Wealth Services now owns 949 shares of the company's stock worth $502,000 after acquiring an additional 946 shares in the last quarter. Sage Mountain Advisors LLC lifted its position in GE Vernova by 16.6% during the 2nd quarter. Sage Mountain Advisors LLC now owns 1,922 shares of the company's stock valued at $1,017,000 after acquiring an additional 273 shares during the period. Finally, Washington Trust Advisors Inc. boosted its stake in GE Vernova by 9.6% during the second quarter. Washington Trust Advisors Inc. now owns 2,442 shares of the company's stock worth $1,292,000 after acquiring an additional 214 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GEV shares. Royal Bank Of Canada raised their target price on shares of GE Vernova from $605.00 to $630.00 and gave the company a "sector perform" rating in a research note on Thursday. Rothschild Redb lowered GE Vernova from a "hold" rating to a "strong sell" rating in a research report on Wednesday, October 15th. Robert W. Baird boosted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on GE Vernova from $715.00 to $740.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $607.59.

Insider Buying and Selling

In other GE Vernova 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company's stock.

GE Vernova Price Performance

GE Vernova stock opened at $584.68 on Friday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The business's fifty day moving average is $611.31 and its 200 day moving average is $531.04. The stock has a market capitalization of $158.64 billion, a PE ratio of 95.23, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova's revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) EPS. 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 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 16.29%.

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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