Jones Financial Companies Lllp Increases Holdings in GE Vernova Inc. $GEV

Key Points

• Jones Financial Companies Lllp significantly increased its stake in GE Vernova Inc. by 1,536.5%, acquiring 79,435 shares to reach a total of 84,605 shares valued at approximately $25.8 million.
• Analysts are optimistic about GE Vernova, with target price upgrades from firms like Bank of America and Barclays, predicting potential growth with a consensus average price target of $573.75.
• GE Vernova has declared a quarterly dividend of $0.25, translating to an annualized yield of 0.2% on a dividend payout ratio of 24.10%.

Jones Financial Companies Lllp boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1,536.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,605 shares of the company's stock after buying an additional 79,435 shares during the quarter. Jones Financial Companies Lllp's holdings in GE Vernova were worth $25,828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westover Capital Advisors LLC increased its holdings in GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after purchasing an additional 25 shares during the period. SVB Wealth LLC grew its holdings in GE Vernova by 0.7% during 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 during the period. Stonebridge Financial Group LLC grew its holdings in GE Vernova by 8.9% during the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after acquiring an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in GE Vernova by 0.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after acquiring an additional 30 shares during the period. Finally, Hemington Wealth Management grew its holdings in GE Vernova by 20.3% during the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after acquiring an additional 30 shares during the period.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company's stock.

GE Vernova Trading Down 1.4%

GEV stock traded down $9.18 on Thursday, hitting $634.38. The company had a trading volume of 2,445,430 shares, compared to its average volume of 3,506,471. GE Vernova Inc. has a 12-month low of $199.65 and a 12-month high of $677.29. The stock's 50-day simple moving average is $604.12 and its 200 day simple moving average is $462.85. The stock has a market cap of $172.69 billion, a price-to-earnings ratio of 152.75, a P/E/G ratio of 4.19 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the company posted $4.65 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is 24.10%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GEV. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Wells Fargo & Company raised their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets raised their price target on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Susquehanna increased their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, TD Cowen boosted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $573.75.

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.