Jacobsen Capital Management Acquires Shares of 614 GE Vernova Inc. $GEV

Key Points

• Jacobsen Capital Management acquired 614 shares of GE Vernova Inc., valued at approximately $325,000, indicating growing institutional interest in the stock.
• The company recently declared a dividend of $0.25 per share, with a payout ratio of 24.10%, set to be paid on November 17th.
• Analysts have mixed ratings on GE Vernova, with a consensus rating of "Moderate Buy" and price targets ranging from $475.00 to $715.00, reflecting differing outlooks on the stock's future performance.

Jacobsen Capital Management bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 614 shares of the company's stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock valued at $955,513,000 after buying an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in GE Vernova by 21.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock valued at $634,984,000 after buying an additional 367,150 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of GE Vernova by 47.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company's stock worth $591,333,000 after acquiring an additional 622,730 shares during the period.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GEV shares. Rothschild & Co Redburn reissued a "sell" rating and set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. TD Cowen increased their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $601.44.

GE Vernova Stock Performance

GE Vernova stock opened at $585.12 on Wednesday. The company's 50 day simple moving average is $613.83 and its 200-day simple moving average is $524.82. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The company has a market capitalization of $159.28 billion, a price-to-earnings ratio of 140.99, a price-to-earnings-growth ratio of 4.30 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the company posted $4.65 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given 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 is Monday, October 20th. 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.

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