GE Vernova Inc. $GEV Shares Purchased by Angeles Wealth Management LLC

Key Points

• Angeles Wealth Management LLC increased its holdings in GE Vernova Inc. by 75.6%, owning 1,247 shares valued at $660,000 as of its latest SEC filing.
• GE Vernova's CFO, Kenneth Scott Parks, sold 3,300 shares for $2,046,000, reducing his position by 30.3% to 7,590 shares.
• The company reported a revenue increase of 11.1% year-over-year, totaling $9.11 billion, and exceeded EPS estimates for the last quarter.

Angeles Wealth Management LLC boosted its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 75.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,247 shares of the company's stock after purchasing an additional 537 shares during the period. Angeles Wealth Management LLC's holdings in GE Vernova were worth $660,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sachetta LLC lifted its position in GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company's stock worth $87,000 after purchasing an additional 16 shares during the period. Highline Wealth Partners LLC lifted its stake in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after purchasing an additional 18 shares during the last quarter. Atlas Brown Inc. lifted its stake in GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after purchasing an additional 19 shares during the last quarter. Physician Wealth Advisors Inc. lifted its stake in GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after purchasing an additional 20 shares during the last quarter. Finally, West Branch Capital LLC lifted its stake in 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 last quarter.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $599.62 on Friday. The company has a market cap of $163.23 billion, a PE ratio of 144.49, a price-to-earnings-growth ratio of 4.36 and a beta of 1.72. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a 50 day simple moving average of $616.42 and a 200 day simple moving average of $519.27.

GE Vernova (NYSE:GEV - Get Free Report) last released 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 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 the consensus estimate of $8.78 billion. During the same quarter in the prior year, the firm 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. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date 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 is presently 24.10%.

Analyst Ratings Changes

Several research firms recently commented on GEV. JPMorgan Chase & Co. increased their target price 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. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Susquehanna increased their target price on shares of GE Vernova from $736.00 to $740.00 and gave the company a "positive" rating in a research note on Monday, October 13th. Mizuho increased their target price on shares of GE Vernova from $670.00 to $677.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Barclays increased their target price on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $592.61.

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.

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