Hedges Asset Management LLC Sells 3,325 Shares of GE Vernova Inc. $GEV

Key Points

• Hedges Asset Management LLC sold 3,325 shares of GE Vernova Inc., reducing its stake by 64.9%, leaving 1,800 shares worth approximately $952,000.
• CFO Kenneth Scott Parks sold 3,300 shares of the company's stock for $2,046,000, representing a 30.30% decrease in his ownership.
• Analysts have rated GE Vernova with a range of ratings, including four with a Strong Buy rating and a recent price target increase to $715.00 by JPMorgan Chase & Co.

Hedges Asset Management LLC reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 64.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,800 shares of the company's stock after selling 3,325 shares during the period. Hedges Asset Management LLC's holdings in GE Vernova were worth $952,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Westover Capital Advisors LLC boosted its holdings in shares of GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after purchasing an additional 25 shares during the period. SVB Wealth LLC boosted its holdings in shares of GE Vernova by 0.7% during the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after purchasing an additional 26 shares during the period. Stonebridge Financial Group LLC boosted its holdings in shares of GE Vernova by 8.9% during the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after purchasing an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of GE Vernova by 0.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after purchasing an additional 30 shares during the period. Finally, Hemington Wealth Management boosted its holdings in shares of GE Vernova by 20.3% during the first quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after purchasing an additional 30 shares during the period.

Insider Activity at GE Vernova

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 value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at $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 SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday, July 28th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Citigroup lifted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Glj Research started coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Finally, BMO Capital Markets lifted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $580.04.

GE Vernova Stock Down 1.3%

Shares of NYSE:GEV traded down $8.16 during trading on Friday, reaching $625.99. The stock had a trading volume of 2,639,095 shares, compared to its average volume of 2,781,331. GE Vernova Inc. has a 52 week low of $219.01 and a 52 week high of $677.29. The firm has a market capitalization of $170.41 billion, a price-to-earnings ratio of 150.84, a P/E/G ratio of 4.32 and a beta of 1.88. The stock has a fifty day simple moving average of $608.65 and a two-hundred day simple moving average of $469.09.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the firm posted $4.65 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 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.