GE Vernova Inc. $GEV is SOA Wealth Advisors LLC.'s 6th Largest Position

Key Points

• SOA Wealth Advisors LLC increased its stake in GE Vernova Inc. by 4.0% during Q2, making it the advisor's 6th largest position with holdings valued at approximately $29.3 million.
• Analysts have given GE Vernova a "Moderate Buy" rating with an average target price of $598.50, while some firms have set target prices ranging from $605.00 to $685.00.
• GE Vernova announced a quarterly dividend of $0.25 per share, reflecting a 0.2% dividend yield and a payout ratio of 24.10%.

SOA Wealth Advisors LLC. grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,446 shares of the company's stock after buying an additional 2,151 shares during the period. GE Vernova accounts for about 3.2% of SOA Wealth Advisors LLC.'s portfolio, making the stock its 6th largest position. SOA Wealth Advisors LLC.'s holdings in GE Vernova were worth $29,339,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GEV. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC bought a new stake in shares of GE Vernova in the 1st quarter valued at about $31,000. Finally, Saudi Central Bank bought a new stake in shares of GE Vernova in the 1st quarter valued at about $33,000.

Analysts Set New Price Targets

A number of research firms recently commented on GEV. Royal Bank Of Canada set a $605.00 target price on shares of GE Vernova and gave the stock a "sector perform" rating in a research note on Wednesday. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. TD Cowen lifted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. UBS Group began coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Finally, Citigroup lifted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $598.50.

GE Vernova Trading Up 2.0%

Shares of NYSE GEV opened at $614.57 on Wednesday. GE Vernova Inc. has a 12 month low of $248.50 and a 12 month high of $677.29. The company has a 50 day simple moving average of $625.00 and a two-hundred day simple moving average of $494.32. The stock 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 announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by company insiders.

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.