GE Vernova Inc. $GEV Position Boosted by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its holdings in GE Vernova Inc. by 32.8% during Q2, owning approximately $47.6 million worth of shares after acquiring additional stock.
• GE Vernova reported strong financial performance, with a quarterly earnings per share of $1.86, exceeding analyst estimates, and revenue up 11.1% year-over-year.
• The company announced a quarterly dividend of $0.25, with an annualized yield of 0.2%, to be paid to investors on November 17th.

Janney Montgomery Scott LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 32.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,935 shares of the company's stock after acquiring an additional 22,233 shares during the quarter. Janney Montgomery Scott LLC's holdings in GE Vernova were worth $47,590,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the first quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC raised its position 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 buying an additional 53 shares in the last quarter. 1248 Management LLC acquired a new stake in shares of GE Vernova in the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank bought a new position in shares of GE Vernova in the first quarter valued at approximately $33,000.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business's 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company's stock.

GE Vernova Trading Up 2.0%

Shares of GEV opened at $614.57 on Wednesday. The business's 50-day moving average price is $625.00 and its 200 day moving average price is $494.32. The stock has a market capitalization of $167.30 billion, a P/E ratio of 148.09, a P/E/G ratio of 4.39 and a beta of 1.87. 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 posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 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 company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GEV. Susquehanna boosted their target price on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. UBS Group assumed coverage on GE Vernova in a research note on Monday, July 7th. They issued a "buy" rating and a $614.00 price objective on the stock. The Goldman Sachs Group raised their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. BMO Capital Markets boosted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research report on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, GE Vernova 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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