First Business Financial Services Inc. Takes $268,000 Position in GE Vernova Inc. $GEV

Key Points

• First Business Financial Services Inc. has acquired a new stake in GE Vernova Inc. valued at approximately $268,000 by purchasing 507 shares in the second quarter.
• Analysts have given GE Vernova mixed ratings, with several boosting their price targets significantly, highlighting a consensus target price of $607.48 and a majority rating of Moderate Buy.
• CFO Kenneth Scott Parks sold 3,300 shares, significantly reducing his ownership by 30.30%, while GE Vernova also declared a quarterly dividend of $0.25 per share.

First Business Financial Services Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 507 shares of the company's stock, valued at approximately $268,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Moloney Securities Asset Management LLC bought a new position in shares of GE Vernova during the second quarter valued at $958,000. Asset Management One Co. Ltd. raised its position in GE Vernova by 8.5% during the 2nd quarter. Asset Management One Co. Ltd. now owns 127,055 shares of the company's stock worth $67,231,000 after purchasing an additional 9,930 shares during the last quarter. R Squared Ltd acquired a new position in GE Vernova during the 2nd quarter worth about $307,000. AlTi Global Inc. bought a new stake in shares of GE Vernova in the 2nd quarter valued at about $530,000. Finally, Draper Asset Management LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $1,557,000.

Wall Street Analyst Weigh In

Several analysts recently commented on GEV shares. Cowen reiterated a "buy" rating on shares of GE Vernova in a report on Thursday. Robert W. Baird boosted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. BMO Capital Markets increased their price target on GE Vernova from $690.00 to $710.00 and gave the stock an "outperform" rating in a report on Thursday. Wells Fargo & Company lifted their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $607.48.

Insider Buying and Selling

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.15% of the company's stock.

GE Vernova Stock Up 3.2%

Shares of NYSE:GEV opened at $594.45 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock's 50 day moving average is $612.04 and its 200-day moving average is $527.31. The firm has a market capitalization of $161.82 billion, a price-to-earnings ratio of 96.82, a PEG ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova Company 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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