Capital Investment Advisors LLC Purchases 551 Shares of GE Vernova Inc. $GEV

Key Points

• Capital Investment Advisors LLC raised its stake in GE Vernova Inc. by 18.0%, increasing its total holdings to 3,605 shares worth approximately $1.9 million.
• GE Vernova reported a net margin of 3.16% and 11.1% revenue increase year-over-year, with earnings per share beating estimates by $0.23.
• The company declared a quarterly dividend of $0.25 per share, which will be paid on November 17th, with a current yield of 0.2%.

Capital Investment Advisors LLC grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 18.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,605 shares of the company's stock after buying an additional 551 shares during the period. Capital Investment Advisors LLC's holdings in GE Vernova were worth $1,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova in the 1st quarter worth approximately $912,000. Pines Wealth Management LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at about $408,000. Resona Asset Management Co. Ltd. raised its holdings in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after buying an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova during the 1st quarter valued at about $458,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after buying an additional 817 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were 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 approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by insiders.

GE Vernova Stock Up 2.0%

Shares of GEV opened at $614.57 on Wednesday. The stock has a market capitalization of $167.30 billion, a P/E ratio of 148.09, a PEG ratio of 4.39 and a beta of 1.87. The firm has a fifty day simple moving average of $625.00 and a two-hundred day simple moving average of $494.32. GE Vernova Inc. has a twelve month low of $248.50 and a twelve month 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 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 net margin of 3.16% and a return on equity of 13.23%. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. BMO Capital Markets raised their price objective on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Finally, Jefferies Financial Group upped their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research note on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently 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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