Kovitz Investment Group Partners LLC Increases Stake in GE Vernova Inc. $GEV

Key Points

• Kovitz Investment Group Partners LLC increased its stake in GE Vernova Inc. by 11.5%, owning 7,170 shares valued at approximately $2.19 million after purchasing an additional 737 shares in the first quarter.
• Wall Street analysts remain optimistic, with multiple firms raising their price targets for GE Vernova, with Barclays setting the highest at $706.00 and the stock currently receiving a consensus rating of "Moderate Buy."
• GE Vernova reported quarterly earnings with a revenue increase of 11.1% year-over-year, exceeding consensus estimates by posting $9.11 billion in revenue and $1.86 EPS for the quarter.

Kovitz Investment Group Partners LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 11.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,170 shares of the company's stock after purchasing an additional 737 shares during the period. Kovitz Investment Group Partners LLC's holdings in GE Vernova were worth $2,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GEV. Navigoe LLC acquired a new position in GE Vernova in the fourth quarter valued at $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the first quarter valued at approximately $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the first quarter worth $27,000. Clarity Asset Management Inc. purchased a new position in GE Vernova in the fourth quarter worth $28,000. Finally, Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at $30,000.

GE Vernova Stock Up 0.8%

Shares of GEV stock traded up $4.6870 during mid-day trading on Thursday, reaching $609.2770. 1,729,348 shares of the stock traded hands, compared to its average volume of 3,557,551. GE Vernova Inc. has a 1-year low of $173.07 and a 1-year high of $677.29. The company has a market cap of $165.86 billion, a price-to-earnings ratio of 146.91, a price-to-earnings-growth ratio of 4.17 and a beta of 1.90. The stock's fifty day simple moving average is $571.62 and its two-hundred day simple moving average is $437.96.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is 24.10%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Citigroup raised their price target on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. UBS Group initiated coverage on shares of GE Vernova in a research report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Jefferies Financial Group cut GE Vernova from a "buy" rating to a "hold" rating and upped their target price for the stock from $427.00 to $517.00 in a research report on Thursday, May 29th. Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating on the stock. Finally, TD Cowen lifted their price objective on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Four equities 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 MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $560.21.

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.