KMG Fiduciary Partners LLC Has $2.11 Million Stock Holdings in GE Vernova Inc. $GEV

Key Points

• KMG Fiduciary Partners increased its GE Vernova stake by 564.4% in the second quarter, bringing its holdings to 1,794 shares valued at approximately $2.11 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, although BNP Paribas Exane downgraded the stock to “neutral.”
• GE Vernova’s latest quarterly revenue rose 21.9% year over year to $11.10 billion and exceeded estimates, but earnings per share of $2.47 fell short of the $3.17 consensus forecast.

KMG Fiduciary Partners LLC increased its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 564.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,794 shares of the company's stock after purchasing an additional 1,524 shares during the quarter. KMG Fiduciary Partners LLC's holdings in GE Vernova were worth $2,108,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC lifted its position in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock valued at $26,000 after buying an additional 13 shares during the last quarter. Miller Global Investments LLC boosted its stake in shares of GE Vernova by 63.6% during the 2nd quarter. Miller Global Investments LLC now owns 36 shares of the company's stock worth $42,000 after acquiring an additional 14 shares during the period. Torren Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $26,000. Cornerstone Financial Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth approximately $25,000. Finally, Wealth Watch Advisors INC bought a new stake in GE Vernova in the 3rd quarter valued at $25,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research reports. BNP Paribas Exane downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price target for the company. in a report on Monday, April 27th. Guggenheim upped their price objective on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Barclays increased their price objective on shares of GE Vernova from $993.00 to $1,250.00 and gave the company an "overweight" rating in a research report on Thursday, April 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of GE Vernova in a report on Monday, July 27th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of GE Vernova in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Stock Performance

NYSE GEV opened at $988.37 on Tuesday. The firm has a 50-day moving average price of $1,027.37 and a two-hundred day moving average price of $949.18. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The company has a market capitalization of $263.23 billion, a P/E ratio of 28.29, a P/E/G ratio of 3.53 and a beta of 1.21. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period in the prior year, the business posted $1.86 earnings per share. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is 5.72%.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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