Cookson Peirce & Co. Inc. Purchases 2,502 Shares of GE Vernova Inc. $GEV

Key Points

• Cookson Peirce & Co. Inc. increased its holdings in GE Vernova Inc. by 8.5%, purchasing an additional 2,502 shares in the second quarter, bringing its total shares to 31,887 valued at approximately $16.87 million.
• Insider transactions revealed that CFO Kenneth Scott Parks sold 3,300 shares at an average price of $620.00, leading to a 30.30% decrease in his ownership position.
• GE Vernova declared a $0.25 quarterly dividend to be paid to shareholders on November 17th, with an annualized yield of 0.2% and a payout ratio of 24.10%.

Cookson Peirce & Co. Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 8.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,887 shares of the company's stock after purchasing an additional 2,502 shares during the quarter. Cookson Peirce & Co. Inc.'s holdings in GE Vernova were worth $16,873,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sachetta LLC raised its holdings in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company's stock worth $87,000 after purchasing an additional 16 shares during the last quarter. Highline Wealth Partners LLC increased its stake in shares of GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after acquiring an additional 18 shares during the last quarter. Atlas Brown Inc. increased its stake in shares of GE Vernova by 0.8% in the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after acquiring an additional 19 shares during the last quarter. Princeton Global Asset Management LLC increased its stake in shares of GE Vernova by 14.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 151 shares of the company's stock valued at $80,000 after acquiring an additional 19 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its stake in shares of GE Vernova by 9.0% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after acquiring an additional 20 shares during the last quarter.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction 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. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by company insiders.

GE Vernova Stock Performance

Shares of GEV opened at $585.12 on Wednesday. The stock has a 50 day simple moving average of $613.83 and a 200 day simple moving average of $524.82. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The firm has a market capitalization of $159.28 billion, a PE ratio of 140.99, a P/E/G ratio of 4.30 and a beta of 1.72.

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. 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 during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the firm earned $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts predict 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 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is 24.10%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GEV shares. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Rothschild & Co Redburn reaffirmed a "sell" rating and issued a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Redburn Partners set a $475.00 price target on GE Vernova in a research note on Wednesday, October 15th. Royal Bank Of Canada set a $605.00 price target on GE Vernova and gave the company a "sector perform" rating in a research note on Wednesday, October 1st. Finally, TD Cowen upped their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $601.44.

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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