Lecap Asset Management Ltd. raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 163.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,516 shares of the company's stock after buying an additional 2,183 shares during the quarter. Lecap Asset Management Ltd.'s holdings in GE Vernova were worth $1,860,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of the stock. Highline Wealth Partners LLC grew its holdings in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after acquiring an additional 18 shares during the period. Atlas Brown Inc. grew its holdings in GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after acquiring an additional 19 shares during the period. Physician Wealth Advisors Inc. grew its holdings in GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock worth $128,000 after acquiring an additional 20 shares during the period. West Branch Capital LLC grew its holdings in GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock worth $52,000 after acquiring an additional 20 shares during the period. Finally, Grove Bank & Trust grew its holdings in GE Vernova by 16.0% during the second quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after acquiring an additional 23 shares during the period.
Insider Activity
In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
GEV has been the topic of a number of recent analyst reports. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Melius Research set a $740.00 target price on GE Vernova and gave the company a "buy" rating in a report on Monday, September 15th. UBS Group began coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price on the stock. Finally, The Goldman Sachs Group upped their target price on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus target price of $598.50.
Read Our Latest Analysis on GE Vernova
GE Vernova Stock Performance
GE Vernova stock opened at $606.97 on Thursday. GE Vernova Inc. has a fifty-two week low of $248.50 and a fifty-two week high of $677.29. The stock's fifty day moving average is $624.54 and its two-hundred day moving average is $495.09. The firm has a market capitalization of $165.23 billion, a price-to-earnings ratio of 146.26, a price-to-earnings-growth ratio of 4.48 and a beta of 1.74.
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 (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the business earned $4.65 earnings per share. The business's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.
GE Vernova Dividend Announcement
The business 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 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio is currently 24.10%.
About GE Vernova
(
Free Report)
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.
Further Reading
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