Inspire Investing LLC Buys New Shares in GE Vernova Inc. $GEV

Key Points

• Inspire Investing LLC purchased 5,535 shares of GE Vernova Inc., valued at approximately $2.9 million, during the second quarter, highlighting increasing institutional interest in the company.
• GE Vernova reported earnings of $1.86 per share for the latest quarter, exceeding analysts' expectations and showing an 11.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.25 per share, with a dividend yield of 0.2% and a payout ratio of 24.10%.

Inspire Investing LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,535 shares of the company's stock, valued at approximately $2,929,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GEV. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova in the first quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the first quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC increased its position in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares during the last quarter. 1248 Management LLC acquired a new position in GE Vernova during the first quarter worth approximately $31,000. Finally, Saudi Central Bank acquired a new position in GE Vernova during the first quarter worth approximately $33,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $606.30 on Friday. The company has a market capitalization of $165.05 billion, a P/E ratio of 146.10, a P/E/G ratio of 4.61 and a beta of 1.72. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The business's 50 day simple moving average is $619.64 and its 200 day simple moving average is $508.47.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The company's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on GEV shares. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley upped their target price on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Four 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $598.50.

GE Vernova Company 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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