Bonness Enterprises Inc. Acquires New Holdings in GE Vernova Inc. $GEV

Key Points

• Bonness Enterprises Inc. recently acquired a new stake in GE Vernova Inc. (NYSE:GEV), purchasing 620 shares valued at approximately $328,000.
• GE Vernova's earnings report for the last quarter indicated an EPS of $1.86, surpassing analysts' expectations of $1.63, with a total revenue of $9.11 billion.
• The company has declared a quarterly dividend of $0.25, with an annualized yield of 0.2%, payable on November 17th to stockholders of record on October 20th.

Bonness Enterprises Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 620 shares of the company's stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after purchasing an additional 214,483 shares during the period. GAMMA Investing LLC raised its stake in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock valued at $634,984,000 after purchasing an additional 367,150 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after acquiring an additional 684,794 shares during the period.

GE Vernova Price Performance

Shares of GEV opened at $605.21 on Friday. The company's 50-day moving average is $622.99 and its 200-day moving average is $488.82. The firm has a market capitalization of $164.75 billion, a PE ratio of 145.83, a PEG ratio of 4.43 and a beta of 1.87. GE Vernova Inc. has a fifty-two week low of $248.50 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its 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. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Buying and Selling

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The stock was 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 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 filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GEV has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. BMO Capital Markets upped their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Jefferies Financial Group lifted their target price on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Finally, Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $592.35.

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.

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