Camelot Portfolios LLC Purchases Shares of 456 GE Vernova Inc. $GEV

Key Points

• Camelot Portfolios LLC purchased 456 shares of GE Vernova Inc., valued at approximately $241,000, in the second quarter of 2024.
• Analysts have a consensus rating of "Moderate Buy" for GE Vernova, with recent price targets ranging from $614 to $740.
• GE Vernova declared a quarterly dividend of $0.25 per share, with a yield of 0.2%, scheduled for payment on November 17th, 2024.

Camelot Portfolios LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 456 shares of the company's stock, valued at approximately $241,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC bought a new stake in GE Vernova during the 1st quarter worth $31,000. Finally, Saudi Central Bank bought a new stake in GE Vernova during the 1st quarter worth $33,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GEV shares. 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 objective on the stock. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Susquehanna boosted their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target on the stock in a research report on Monday, September 15th. Finally, Glj Research assumed coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $592.35.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction 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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.15% of the company's stock.

GE Vernova Price Performance

NYSE GEV opened at $605.21 on Friday. The business has a 50 day simple moving average of $622.99 and a 200 day simple moving average of $490.14. The stock has a market capitalization of $164.75 billion, a P/E ratio of 145.83, a P/E/G ratio of 4.41 and a beta of 1.87. GE Vernova Inc. has a one year low of $248.50 and a one year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

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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