Bragg Financial Advisors Inc Lowers Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Bragg Financial Advisors Inc decreased its holdings in GE Vernova Inc. by 7.2%, selling 487 shares to hold 6,272 shares valued at approximately $1,915,000.
• Research analysts have shown a mixed outlook on GEV shares, with Susquehanna raising its target price to $736.00, while Wall Street Zen downgraded the stock from "buy" to "hold."
• GE Vernova reported a net revenue of $9.11 billion for the last quarter, exceeding analyst estimates, with earnings per share of $1.86, up from $4.65 a year prior.

Bragg Financial Advisors Inc reduced its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 7.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,272 shares of the company's stock after selling 487 shares during the quarter. Bragg Financial Advisors Inc's holdings in GE Vernova were worth $1,915,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GEV. Navigoe LLC bought a new position in GE Vernova in the 4th quarter worth about $27,000. Clarity Asset Management Inc. purchased a new position in GE Vernova in the 4th quarter worth approximately $28,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. Orion Capital Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at approximately $30,000. Finally, EQ Wealth Advisors LLC purchased a new stake in GE Vernova in the first quarter worth $27,000.

GE Vernova Trading Up 0.0%

Shares of GEV traded up $0.1210 during mid-day trading on Friday, hitting $606.1210. 2,724,290 shares of the company traded hands, compared to its average volume of 2,615,281. The stock has a market capitalization of $165.00 billion, a price-to-earnings ratio of 146.05, a PEG ratio of 4.20 and a beta of 1.90. The business has a 50-day moving average of $576.57 and a 200 day moving average of $441.89. GE Vernova Inc. has a one year low of $173.07 and a one year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TD Cowen upped their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Glj Research started coverage on GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating for the company. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and upped their price target for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lifted their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $560.21.

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.