Johnson Investment Counsel Inc. Purchases 584 Shares of GE Vernova Inc. $GEV

Key Points

• Johnson Investment Counsel Inc. increased its stake in GE Vernova Inc. by 3.1% during Q2, owning a total of 19,346 shares valued at approximately $10 million.
• Analysts are optimistic about GE Vernova, with multiple upgrades to "buy" ratings and price targets reaching as high as $740.00, reflecting strong investor sentiment and confidence in the company’s future performance.
• GE Vernova reported quarterly earnings of $1.86 per share, surpassing estimates, and set a quarterly dividend of $0.25 per share, indicating a stable financial outlook.

Johnson Investment Counsel Inc. lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,346 shares of the company's stock after purchasing an additional 584 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in GE Vernova were worth $10,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC boosted its position in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after purchasing an additional 18 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of GE Vernova during the second quarter valued at approximately $37,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the first quarter valued at approximately $27,000. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the first quarter valued at approximately $27,000. Finally, West Branch Capital LLC boosted its position in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after purchasing an additional 20 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent research reports. Citigroup lifted their price objective on 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 initiated coverage on GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating for the company. Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Bank of America lifted their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $598.50.

GE Vernova Price Performance

GEV stock opened at $606.30 on Monday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The business has a fifty day moving average price of $619.64 and a 200-day moving average price of $511.24. The stock has a market capitalization of $165.05 billion, a P/E ratio of 146.10, a P/E/G ratio of 4.38 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly 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 quarter in the previous year, the business earned $4.65 earnings per share. The company's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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

Insider Buying and Selling

In related 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 owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.