Front Street Capital Management Inc. Has $17.80 Million Position in GE Vernova Inc. $GEV

Key Points

• Front Street Capital Management Inc. reduced its stake in GE Vernova Inc. by 8.1%, owning approximately $17.80 million worth of shares as of its latest filing.
• GE Vernova reported earnings of $1.86 per share, surpassing analysts' estimates of $1.63, with revenues for the quarter totaling $9.11 billion.
• The company's quarterly dividend of $0.25 represents an annual yield of 0.2%, with a dividend payout ratio of 24.10% currently in place.

Front Street Capital Management Inc. reduced its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 8.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 58,299 shares of the company's stock after selling 5,146 shares during the period. GE Vernova comprises approximately 3.4% of Front Street Capital Management Inc.'s portfolio, making the stock its 10th biggest position. Front Street Capital Management Inc.'s holdings in GE Vernova were worth $17,798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC bought a new stake in GE Vernova during the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. bought a new stake in GE Vernova during the 1st quarter worth approximately $27,000. Orion Capital Management LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $30,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in 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 in the last quarter. Finally, Saudi Central Bank bought a new stake in GE Vernova during the 1st quarter worth approximately $33,000.

Insider Buying and Selling

In related 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 value of $2,046,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company's stock.

GE Vernova Stock Down 2.8%

Shares of NYSE GEV opened at $581.92 on Friday. GE Vernova Inc. has a twelve month low of $193.38 and a twelve month high of $677.29. The stock's 50 day moving average price is $597.95 and its 200-day moving average price is $458.00. The company has a market capitalization of $158.41 billion, a PE ratio of 140.22, a PEG ratio of 4.02 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping 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 firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 EPS. The company's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GEV. Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Susquehanna boosted their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $573.75.

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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