Capital Advisors Inc. OK Increases Position in GE Vernova Inc. $GEV

Key Points

• Capital Advisors Inc. OK increased its position in GE Vernova Inc. by 0.8%, owning 121,508 shares valued at approximately $64.3 million, making it the 24th largest position in its portfolio.
• Brokerages have raised their price targets for GE Vernova, with Goldman Sachs setting a target of $570, and TD Cowen increasing it to $685, reflecting positive sentiment on the stock's performance.
• GE Vernova reported strong quarterly earnings with an EPS of $1.86, exceeding expectations, and disclosed a quarterly dividend of $0.25 to be paid on November 17th.

Capital Advisors Inc. OK increased its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,508 shares of the company's stock after buying an additional 968 shares during the quarter. GE Vernova accounts for about 1.2% of Capital Advisors Inc. OK's portfolio, making the stock its 24th largest position. Capital Advisors Inc. OK's holdings in GE Vernova were worth $64,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Comprehensive Financial Consultants Institutional Inc. purchased a new position in GE Vernova during the 2nd quarter worth $2,548,000. Relyea Zuckerberg Hanson LLC purchased a new position in GE Vernova during the 2nd quarter worth $427,000. Belpointe Asset Management LLC grew its stake in GE Vernova by 74.3% during the 2nd quarter. Belpointe Asset Management LLC now owns 2,027 shares of the company's stock worth $1,073,000 after buying an additional 864 shares during the last quarter. Confluence Wealth Services Inc. grew its stake in GE Vernova by 47.5% during the 2nd quarter. Confluence Wealth Services Inc. now owns 2,940 shares of the company's stock worth $1,555,000 after buying an additional 947 shares during the last quarter. Finally, Autumn Glory Partners LLC grew its stake in GE Vernova by 67.1% during the 2nd quarter. Autumn Glory Partners LLC now owns 1,245 shares of the company's stock worth $659,000 after buying an additional 500 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GEV. The Goldman Sachs Group boosted their target price on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wells Fargo & Company boosted their target price on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. boosted their price target on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $598.50.

GE Vernova Stock Performance

GE Vernova stock opened at $595.07 on Monday. The business's 50-day simple moving average is $623.21 and its two-hundred day simple moving average is $501.17. The company has a market cap of $161.99 billion, a PE ratio of 143.39, a PEG ratio of 4.33 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was 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 currently owned by company insiders.

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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