Channel Wealth LLC Has $1.71 Million Position in GE Vernova Inc. $GEV

Key Points

• Channel Wealth LLC significantly reduced its stake in GE Vernova Inc. by 70.8%, now holding a position valued at approximately $1.71 million after selling 7,833 shares during the second quarter.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., have increased their stakes in GE Vernova, highlighting growing interest in the company.
• Wall Street analysts have varied opinions on GE Vernova, with price targets ranging from $511.00 to $690.00 and some giving it a Strong Buy rating, indicating potential for future growth.

Channel Wealth LLC cut its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 70.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,229 shares of the company's stock after selling 7,833 shares during the period. Channel Wealth LLC's holdings in GE Vernova were worth $1,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in GE Vernova by 1.8% in 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 in the last quarter. Goldman Sachs Group Inc. boosted its position in GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after buying an additional 214,483 shares in the last quarter. GAMMA Investing LLC boosted its position in GE Vernova by 32,984.2% in the first 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 position in GE Vernova by 21.4% in 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 buying an additional 367,150 shares in the last quarter. Finally, Wellington Management Group LLP boosted 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 buying an additional 684,794 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GEV. Morgan Stanley boosted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. TD Cowen boosted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Citigroup boosted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, BMO Capital Markets boosted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $592.35.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $618.28 on Wednesday. GE Vernova Inc. has a 52 week low of $233.51 and a 52 week high of $677.29. The company has a market capitalization of $168.31 billion, a PE ratio of 148.98, a PEG ratio of 4.35 and a beta of 1.87. The company has a 50 day moving average price of $612.36 and a two-hundred day moving average price of $472.16.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's dividend payout ratio 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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