Kingswood Wealth Advisors LLC Sells 2,577 Shares of GE Vernova Inc. $GEV

Key Points

• Kingswood Wealth Advisors LLC has reduced its stake in GE Vernova Inc. by 40.8% during Q2, now holding 3,733 shares valued at approximately $1,975,000.
• GE Vernova reported a quarterly earnings per share of $1.86, exceeding analysts' expectations of $1.63, and showed a revenue increase of 11.1% year-over-year.
• The company has announced a quarterly dividend of $0.25 per share, to be paid on November 17th, representing an annualized yield of 0.2%.

Kingswood Wealth Advisors LLC trimmed its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 40.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,733 shares of the company's stock after selling 2,577 shares during the period. Kingswood Wealth Advisors LLC's holdings in GE Vernova were worth $1,975,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sachetta LLC raised its holdings in shares of GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company's stock valued at $87,000 after buying an additional 16 shares in the last quarter. Highline Wealth Partners LLC raised its holdings in shares of GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after buying an additional 18 shares in the last quarter. Atlas Brown Inc. raised its holdings in shares of GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after buying an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of GE Vernova by 9.0% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after buying an additional 20 shares in the last quarter. Finally, West Branch Capital LLC raised its holdings in shares of GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after buying an additional 20 shares in the last quarter.

GE Vernova Stock Performance

Shares of GEV stock opened at $606.24 on Wednesday. The firm has a market cap of $165.03 billion, a P/E ratio of 146.08, a P/E/G ratio of 4.39 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The business's 50 day moving average price is $621.76 and its 200-day moving average price is $503.77.

GE Vernova (NYSE:GEV - Get Free Report) last issued 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. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis 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%.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. TD Cowen lifted their price target on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Jefferies Financial Group lifted their price target on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research note on Friday, September 12th. Citigroup lifted their price target on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on GE Vernova from $620.00 to $715.00 and gave the stock 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 issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock 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.

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.