Genesee Capital Advisors LLC Takes $223,000 Position in GE Vernova Inc. $GEV

Key Points

• Genesee Capital Advisors LLC has established a new position in GE Vernova Inc., acquiring 422 shares valued at approximately $223,000.
• Major investors including Vanguard Group and Goldman Sachs have increased their stakes in GE Vernova, indicating growing institutional confidence in the company.
• Analysts have robustly rated GE Vernova, with JPMorgan Chase raising its target price from $620 to $715, reflecting strong expectations for the company's growth prospects.

Genesee Capital Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 422 shares of the company's stock, valued at approximately $223,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock worth $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after purchasing an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of GE Vernova by 21.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock worth $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after purchasing an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after purchasing an additional 622,730 shares during the last quarter.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GEV shares. JPMorgan Chase & Co. raised their target price on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Weiss Ratings reissued a "hold (c)" rating on shares of GE Vernova in a research note on Wednesday, October 8th. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Bank of America raised their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Four equities 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $598.50.

GE Vernova Price Performance

Shares of GEV opened at $606.30 on Monday. The company has a 50-day simple moving average of $619.64 and a two-hundred day simple moving average of $511.24. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The firm has a market capitalization of $165.05 billion, a PE ratio of 146.10, a price-to-earnings-growth ratio of 4.38 and a beta of 1.72.

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, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the business earned $4.65 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

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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