Lazari Capital Management Inc. Buys Shares of 524 GE Vernova Inc. $GEV

Key Points

• Lazari Capital Management Inc. acquired 524 shares of GE Vernova Inc. valued at approximately $277,000 in the second quarter, showcasing strong institutional interest in the stock.
• Analysts have recently increased their price targets for GE Vernova, with JPMorgan Chase raising the target from $620 to $715, indicating positive market sentiment.
• GE Vernova reported better-than-expected earnings, posting $1.86 EPS against a consensus estimate of $1.63, along with a quarterly revenue increase of 11.1% year-over-year.

Lazari Capital Management Inc. purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 524 shares of the company's stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. EQ Wealth Advisors LLC purchased a new stake in GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC purchased a new position in GE Vernova in the first quarter valued at about $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the first quarter worth about $33,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Melius Research set a $740.00 target price on shares of GE Vernova and gave the company a "buy" rating in a research report on Monday, September 15th. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Citigroup raised their price objective on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $592.35.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a legal 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 0.4%

NYSE:GEV opened at $605.21 on Monday. The company has a market capitalization of $164.75 billion, a P/E ratio of 145.83, a PEG ratio of 4.41 and a beta of 1.88. GE Vernova Inc. has a 12 month low of $248.50 and a 12 month high of $677.29. The firm has a fifty day simple moving average of $622.99 and a 200-day simple moving average of $491.47.

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 analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during 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 firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

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.

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