High Net Worth Advisory Group LLC Makes New Investment in GE Vernova Inc. $GEV

Key Points

• High Net Worth Advisory Group LLC acquired 452 shares of GE Vernova Inc., valued at approximately $239,000, during the second quarter.
• Several institutional investors have increased their stakes in GE Vernova, showcasing growing interest in the company amid a consensus rating of "Moderate Buy" with a target price of $592.35.
• GE Vernova reported a significant earnings per share (EPS) of $1.86 for the last quarter, surpassing expectations and indicating a year-over-year revenue growth of 11.1%.

High Net Worth Advisory Group LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 452 shares of the company's stock, valued at approximately $239,000.

A number of other hedge funds also recently bought and sold shares of GEV. Atlas Brown Inc. lifted its stake in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after purchasing an additional 19 shares in the last quarter. Westover Capital Advisors LLC increased its stake in GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after acquiring an additional 25 shares during the period. SVB Wealth LLC boosted its holdings in shares of GE Vernova by 0.7% in the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after acquiring an additional 26 shares in the last quarter. Chesley Taft & Associates LLC raised its position in shares of GE Vernova by 0.9% during the 2nd quarter. Chesley Taft & Associates LLC now owns 3,194 shares of the company's stock valued at $1,690,000 after acquiring an additional 27 shares during the last quarter. Finally, Stonebridge Financial Group LLC boosted its stake in GE Vernova by 8.9% in the 1st 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.

Insider Buying and Selling

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

GE Vernova Stock Performance

GEV traded up $13.61 during mid-day trading on Friday, reaching $624.61. The stock had a trading volume of 4,104,917 shares, compared to its average volume of 2,689,348. The firm's fifty day simple moving average is $617.11 and its two-hundred day simple moving average is $478.45. The stock has a market capitalization of $170.03 billion, a P/E ratio of 150.51, a P/E/G ratio of 4.55 and a beta of 1.87. GE Vernova Inc. has a 52 week low of $242.25 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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 firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays increased their price target on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Mizuho cut shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research note on Monday, July 28th. The Goldman Sachs Group raised their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective on the stock in a research report on Monday, September 15th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

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.