GC Wealth Management RIA LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• GC Wealth Management RIA LLC acquired 1,897 shares of GE Vernova Inc. valued at approximately $1,004,000 in the second quarter, marking a new position in the company.
• Several hedge funds have increased their stakes in GE Vernova, with Vanguard Group and Wellington Management Group showing significant increases of 1.8% and 50.9%, respectively.
• GE Vernova announced a quarterly dividend of $0.25 per share, with the payment set for November 17th to shareholders of record by October 20th, resulting in an annualized yield of 0.2%.

GC Wealth Management RIA LLC acquired 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 firm acquired 1,897 shares of the company's stock, valued at approximately $1,004,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after buying an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock valued at $634,984,000 after buying an additional 367,150 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

Insider Activity

In other 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company's stock.

GE Vernova Trading Down 0.7%

GEV stock opened at $600.66 on Tuesday. The company's 50 day moving average is $623.69 and its 200 day moving average is $493.48. The stock has a market cap of $163.51 billion, a price-to-earnings ratio of 144.74, a price-to-earnings-growth ratio of 4.41 and a beta of 1.88. GE Vernova Inc. has a 1-year low of $248.50 and a 1-year high of $677.29.

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, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Upgrades and Downgrades

GEV has been the subject of several recent research reports. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price for the company. in a research note on Monday, July 28th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. 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 research note on Thursday, July 24th. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, TD Cowen upped their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $592.35.

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.

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.