GE Vernova Inc. $GEV Shares Sold by IFP Advisors Inc

IFP Advisors Inc lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 11.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,522 shares of the company's stock after selling 594 shares during the period. IFP Advisors Inc's holdings in GE Vernova were worth $2,393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sachetta LLC grew its holdings in shares of GE Vernova by 10.7% in the 2nd quarter. Sachetta LLC now owns 165 shares of the company's stock worth $87,000 after acquiring an additional 16 shares during the period. Highline Wealth Partners LLC lifted its stake in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after buying an additional 18 shares in the last quarter. Atlas Brown Inc. lifted its stake in GE Vernova by 0.8% in the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after buying an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. lifted its stake in GE Vernova by 9.0% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after buying an additional 20 shares in the last quarter. Finally, West Branch Capital LLC lifted its stake in GE Vernova by 25.6% in the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after buying an additional 20 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GEV. JPMorgan Chase & Co. upped their target price on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Melius Research set a $740.00 target price on GE Vernova and gave the company a "buy" rating in a research note on Monday, September 15th. Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of GE Vernova in a research note on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $598.50.

GE Vernova Stock Down 4.4%

Shares of GE Vernova stock opened at $606.30 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm has a market cap of $165.05 billion, a PE ratio of 146.10, a P/E/G ratio of 4.40 and a beta of 1.72. The business's fifty day moving average is $619.64 and its two-hundred day moving average is $509.80.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly 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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the company posted $4.65 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio is presently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly 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 SEC, which is available at this link. 0.15% of the stock is currently owned by insiders.

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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