Forza Wealth Management LLC Makes New Investment in GE Vernova Inc. $GEV

Key Points

• Forza Wealth Management LLC invested approximately $323,000 in GE Vernova Inc. by acquiring 611 shares in the second quarter of the year, as disclosed in a recent 13F filing.
• GE Vernova reported earnings of $1.86 per share for the most recent quarter, exceeding analysts' expectations of $1.63, and achieved a revenue increase of 11.1% year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, with a payment date set for November 17th, reflecting a yield of 0.2% and a payout ratio of 24.10%.

Forza Wealth Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 611 shares of the company's stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC acquired a new position in GE Vernova during the first quarter worth about $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the first quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC raised its position in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 53 shares during the last quarter. 1248 Management LLC purchased a new stake in shares of GE Vernova during the first quarter worth 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 Performance

GE Vernova stock opened at $614.57 on Wednesday. GE Vernova Inc. has a 1 year low of $248.50 and a 1 year high of $677.29. The firm has a 50 day moving average price of $625.00 and a 200 day moving average price of $494.32. The company has a market cap of $167.30 billion, a price-to-earnings ratio of 148.09, a PEG ratio of 4.39 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $8.78 billion. During the same period in the previous year, the firm earned $4.65 earnings per share. GE Vernova's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed 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. 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 currently 24.10%.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business'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 transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was 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 this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday, July 28th. Bank of America lifted their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Jefferies Financial Group lifted their price target on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Finally, Susquehanna lifted their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $592.35.

About GE Vernova

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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