Confluence Wealth Services Inc. Purchases 947 Shares of GE Vernova Inc. $GEV

Key Points

• Confluence Wealth Services Inc. increased its stake in GE Vernova Inc. by 47.5%, now holding 2,940 shares valued at approximately $1.56 million.
• Citigroup raised its price target for GE Vernova from $544 to $670, reflecting positive expectations from analysts regarding the stock.
• GE Vernova announced a quarterly dividend of $0.25, set to be paid on November 17th, which represents an annual yield of 0.2%.

Confluence Wealth Services Inc. increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 47.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,940 shares of the company's stock after purchasing an additional 947 shares during the period. Confluence Wealth Services Inc.'s holdings in GE Vernova were worth $1,555,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. EQ Wealth Advisors LLC bought a new stake in GE Vernova in the 1st quarter valued at $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares during the period. 1248 Management LLC acquired a new position in GE Vernova in the first quarter worth about $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova during the first quarter worth about $33,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GEV shares. Citigroup upped their price objective on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target on the stock in a research note on Monday, September 15th. Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the stock a "sector perform" rating in a research note on Wednesday. BMO Capital Markets boosted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price for the company. in a research report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $598.50.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company's stock.

GE Vernova Stock Down 1.8%

GE Vernova stock opened at $595.07 on Monday. The stock has a 50-day simple moving average of $623.21 and a 200 day simple moving average of $501.17. The stock has a market capitalization of $161.99 billion, a price-to-earnings ratio of 143.39, a P/E/G ratio of 4.33 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

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

GE Vernova Dividend Announcement

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