Friedenthal Financial Decreases Stake in GE Vernova Inc. $GEV

Key Points

• Friedenthal Financial has significantly reduced its stake in GE Vernova Inc., decreasing its holdings by 91% during the second quarter, leaving it with only 306 shares valued at approximately $162,000.
• GE Vernova's shares recently opened at $606.24 and have shown a significant price range over the past year, with a low of $252.25 and a high of $677.29.
• The company announced a quarterly dividend of $0.25 per share, set to be paid on November 17th, with a 0.2% yield based on its annualized dividend.

Friedenthal Financial decreased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 91.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 306 shares of the company's stock after selling 3,107 shares during the period. Friedenthal Financial's holdings in GE Vernova were worth $162,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC purchased a new stake in GE Vernova in the 1st quarter valued at about $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC purchased a new stake in shares of GE Vernova during the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank purchased a new stake in shares of GE Vernova during the 1st quarter worth approximately $33,000.

Insider Buying and Selling

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction 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 of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.15% of the stock is currently owned by insiders.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $606.24 on Wednesday. The firm has a fifty day moving average price of $621.76 and a two-hundred day moving average price of $503.77. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The company has a market cap of $165.03 billion, a price-to-earnings ratio of 146.08, a PEG ratio of 4.39 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS 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 the consensus estimate of $8.78 billion. During the same period last year, the firm earned $4.65 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. HSBC raised their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. The Goldman Sachs Group raised their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Jefferies Financial Group raised their price target on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research note on Friday, September 12th. Finally, JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $598.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.