Diversified Enterprises LLC Acquires New Position in GE Vernova Inc. $GEV

Key Points

• Diversified Enterprises LLC has acquired a new stake in GE Vernova Inc., purchasing 545 shares valued at approximately $288,000 in the second quarter, indicating growing institutional interest in the company.
• GE Vernova's stock recently opened at $605.21 and has a market cap of $164.75 billion, despite a slight decline of 0.4% in its share price.
• The company reported quarterly earnings of $1.86 EPS, exceeding analyst estimates, with a revenue increase of 11.1% compared to the same quarter last year.

Diversified Enterprises LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 545 shares of the company's stock, valued at approximately $288,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. EQ Wealth Advisors LLC bought a new position in GE Vernova during the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of GE Vernova by 115.2% during 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 in the last quarter. 1248 Management LLC bought a new position in GE Vernova in the first quarter valued at about $31,000. Finally, Saudi Central Bank purchased a new stake in shares of GE Vernova during the first quarter worth about $33,000.

GE Vernova Stock Down 0.4%

GE Vernova stock opened at $605.21 on Friday. The company has a market cap of $164.75 billion, a P/E ratio of 145.83, a P/E/G ratio of 4.41 and a beta of 1.87. GE Vernova Inc. has a 52-week low of $248.50 and a 52-week high of $677.29. The business has a 50-day simple moving average of $622.99 and a two-hundred day simple moving average of $490.14.

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

GE Vernova Dividend Announcement

The firm 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 dividend of $0.25 per share. 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 currently 24.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Citigroup increased their price objective 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. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a "buy" rating in a research note on Monday, September 15th. UBS Group assumed coverage on shares of GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 price target on the stock. Finally, Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $592.35.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

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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