GE Vernova Inc. $GEV Shares Acquired by FNY Investment Advisers LLC

Key Points

• FNY Investment Advisers LLC increased its holdings in GE Vernova Inc. by 109.5% during the second quarter, owning 3,300 shares worth approximately $1.75 million at the end of the quarter.
• GE Vernova reported strong financial results, with earnings per share of $1.86 for the last quarter, surpassing analyst estimates and achieving a year-over-year revenue increase of 11.1%.
• The company declared a quarterly dividend of $0.25 per share, set to be paid on November 17th, with a current payout ratio of 24.10%.

FNY Investment Advisers LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 109.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,300 shares of the company's stock after purchasing an additional 1,725 shares during the period. FNY Investment Advisers LLC's holdings in GE Vernova were worth $1,746,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Highline Wealth Partners LLC grew its holdings in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after buying an additional 18 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in GE Vernova during the 2nd quarter worth $37,000. Advantage Trust Co acquired a new position in GE Vernova during the 2nd quarter worth $40,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova in the first quarter worth $27,000. Finally, West Branch Capital LLC increased its holdings in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after purchasing an additional 20 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $585.12 on Wednesday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The stock has a fifty day moving average of $613.83 and a 200-day moving average of $524.82. The company has a market capitalization of $159.28 billion, a PE ratio of 140.99, a price-to-earnings-growth ratio of 4.30 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) 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 business had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the previous year, the firm posted $4.65 EPS. The company's quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's payout ratio is presently 24.10%.

Analysts Set New Price Targets

Several research firms recently weighed in on GEV. Mizuho upped their price objective on shares of GE Vernova from $670.00 to $677.00 and gave the stock a "neutral" rating in a report on Wednesday, October 15th. Rothschild & Co Redburn reaffirmed a "sell" rating and issued a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price on the stock in a report on Monday, September 15th. Finally, HSBC increased their price target on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research note on Friday, September 5th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $601.44.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company's stock.

GE Vernova 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.

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