Bleakley Financial Group LLC Has $6.89 Million Position in GE Vernova Inc. $GEV

Key Points

• Bleakley Financial Group LLC raised its stake in GE Vernova Inc. by 20.8% in Q2, holding 13,013 shares valued at $6.89 million at the quarter's end.
• Analysts have mixed views on GE Vernova, with JPMorgan raising its price target from $620 to $715 and Wall Street Zen downgrading its rating from "buy" to "hold."
• GE Vernova reported earnings of $1.64 per share in its recent quarterly results, missing estimates but posting an 11.8% year-over-year revenue growth.

Bleakley Financial Group LLC grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 20.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,013 shares of the company's stock after acquiring an additional 2,240 shares during the quarter. Bleakley Financial Group LLC's holdings in GE Vernova were worth $6,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Blueprint LLC grew its holdings in GE Vernova by 1.6% during the second quarter. Strategic Blueprint LLC now owns 1,782 shares of the company's stock valued at $943,000 after purchasing an additional 28 shares during the period. Principle Wealth Partners LLC grew its holdings in shares of GE Vernova by 6.7% in the 2nd quarter. Principle Wealth Partners LLC now owns 2,139 shares of the company's stock valued at $1,132,000 after buying an additional 134 shares during the period. Ethic Inc. grew its holdings in shares of GE Vernova by 80.1% in the 2nd quarter. Ethic Inc. now owns 32,594 shares of the company's stock valued at $16,938,000 after buying an additional 14,500 shares during the period. Greatmark Investment Partners Inc. bought a new stake in shares of GE Vernova in the 2nd quarter valued at $315,000. Finally, Caliber Wealth Management LLC KS acquired a new stake in GE Vernova during the 2nd quarter worth $1,759,000.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GEV. JPMorgan Chase & Co. increased their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Robert W. Baird raised their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. HSBC upped their price target on shares of GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a report on Friday, September 5th. Finally, Mizuho raised their price objective on shares of GE Vernova from $670.00 to $677.00 and gave the stock a "neutral" rating in a report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $601.70.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

GE Vernova Stock Down 1.6%

Shares of GEV stock opened at $575.73 on Thursday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company's fifty day simple moving average is $612.65 and its 200-day simple moving average is $525.17. The firm has a market cap of $156.72 billion, a PE ratio of 138.73, a P/E/G ratio of 4.24 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly 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). GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The firm's quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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 given a $0.25 dividend. 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 payout ratio is currently 24.10%.

GE Vernova Company 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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