Bosman Wealth Management LLC Takes $2.24 Million Position in GE Vernova Inc. $GEV

Key Points

• Bosman Wealth Management LLC has acquired a new stake in GE Vernova Inc. valued at approximately $2.24 million, making it the 23rd largest position in their portfolio.
• GE Vernova reported a strong quarterly earnings result of $1.86 EPS, surpassing expectations, and generated $9.11 billion in revenue, reflecting an 11.1% increase year-over-year.
• The company recently announced a quarterly dividend of $0.25 per share, representing a 0.2% yield and a payout ratio of 24.10%.

Bosman Wealth Management LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,227 shares of the company's stock, valued at approximately $2,237,000. GE Vernova accounts for 2.0% of Bosman Wealth Management LLC's investment portfolio, making the stock its 23rd largest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Chicago Capital LLC grew its position in shares of GE Vernova by 2.1% in the second quarter. Chicago Capital LLC now owns 5,305 shares of the company's stock valued at $2,807,000 after purchasing an additional 108 shares during the period. Trivium Point Advisory LLC grew its position in shares of GE Vernova by 5.7% in the second quarter. Trivium Point Advisory LLC now owns 2,873 shares of the company's stock valued at $1,520,000 after purchasing an additional 155 shares during the period. Emerald Advisors LLC purchased a new stake in shares of GE Vernova in the second quarter valued at $215,000. Hamilton Capital Partners LLC purchased a new stake in shares of GE Vernova in the second quarter valued at $219,000. Finally, Alliance Wealth Advisors LLC purchased a new stake in GE Vernova during the second quarter valued at about $252,000.

GE Vernova Stock Performance

NYSE:GEV opened at $600.66 on Tuesday. GE Vernova Inc. has a one year low of $248.50 and a one year high of $677.29. The business's 50-day simple moving average is $623.69 and its 200 day simple moving average is $493.48. The stock has a market cap of $163.51 billion, a price-to-earnings ratio of 144.74, a price-to-earnings-growth ratio of 4.41 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) 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 firm had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova's dividend payout ratio is 24.10%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GEV shares. Bank of America boosted their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target for the company in a research report on Monday, September 15th. Wells Fargo & Company boosted their price target on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. UBS Group started coverage on GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. Finally, Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

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 value 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 $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

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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