Hurlow Wealth Management Group Inc. Buys New Position in GE Vernova Inc. $GEV

Key Points

• Hurlow Wealth Management Group Inc. purchased a new position in GE Vernova Inc., acquiring 520 shares valued at approximately $275,000.
• GE Vernova reported a net margin of 3.16% and a year-over-year revenue increase of 11.1%, with earnings per share of $1.86 for the last quarter, exceeding analyst expectations.
• The company is currently trading at $611.45 with a market capitalization of $166.45 billion, and has recently declared a quarterly dividend of $0.25 per share.

Hurlow Wealth Management Group Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 520 shares of the company's stock, valued at approximately $275,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of GE Vernova in the first quarter worth approximately $912,000. Resona Asset Management Co. Ltd. increased its stake in shares of GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after purchasing an additional 6,551 shares in the last quarter. Pines Wealth Management LLC bought a new position in GE Vernova in the 2nd quarter worth $408,000. Lockheed Martin Investment Management Co. purchased a new position in GE Vernova during the first quarter valued at $458,000. Finally, Golden State Wealth Management LLC lifted its position in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after purchasing an additional 817 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. HSBC upped their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a report on Friday, September 5th. Morgan Stanley upped their target price on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a research report on Monday, September 15th. Finally, BMO Capital Markets lifted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Four investment 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. According to data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $592.35.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

GE Vernova Trading Up 2.2%

Shares of GE Vernova stock traded up $13.61 during trading hours on Friday, hitting $624.61. 4,104,917 shares of the company were exchanged, compared to its average volume of 2,689,348. The stock has a market capitalization of $170.03 billion, a price-to-earnings ratio of 128.69, a P/E/G ratio of 4.55 and a beta of 1.87. GE Vernova Inc. has a 1 year low of $242.25 and a 1 year high of $677.29. The business has a 50-day moving average of $617.11 and a 200-day moving average of $477.34.

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 (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 business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the firm posted $4.65 EPS. 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, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were paid 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 of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is currently 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.