HB Wealth Management LLC Has $5.74 Million Stock Holdings in GE Vernova Inc. $GEV

Key Points

• HB Wealth Management LLC reduced its stake in GE Vernova Inc. by 5.5% in the 2nd quarter, now holding shares valued at $5.74 million.
• Multiple analysts have rated GE Vernova, with four giving it a Strong Buy rating, while the company has a consensus rating of Moderate Buy along with an average price target of $592.35.
• The company announced a quarterly dividend of $0.25 per share, which will be paid on November 17th, representing an annualized dividend yield of 0.2%.

HB Wealth Management LLC lessened its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,843 shares of the company's stock after selling 627 shares during the quarter. HB Wealth Management LLC's holdings in GE Vernova were worth $5,738,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter valued at approximately $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova in the 1st quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after buying an additional 53 shares during the period. 1248 Management LLC acquired a new position in GE Vernova in the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank acquired a new position in GE Vernova in the 1st quarter valued at approximately $33,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GEV shares. Glj Research started coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Finally, Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $592.35.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction 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 $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by insiders.

GE Vernova Trading Up 2.0%

NYSE GEV opened at $614.57 on Wednesday. The company has a fifty day simple moving average of $625.00 and a 200 day simple moving average of $494.32. The company has a market cap of $167.30 billion, a P/E ratio of 148.09, a P/E/G ratio of 4.39 and a beta of 1.87. GE Vernova Inc. has a 1 year low of $248.50 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities 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 announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid 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 dividend payout ratio is presently 24.10%.

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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