LRI Investments LLC Grows Stock Holdings in GE Vernova Inc. $GEV

Key Points

• LRI Investments LLC increased its stake in GE Vernova Inc. by 162.5% during the second quarter, bringing its total holdings to 1,546 shares valued at approximately $818,000.
• The CFO of GE Vernova, Kenneth Scott Parks, sold 3,300 shares for $2,046,000, representing a 30.30% decrease in his ownership.
• GE Vernova recently declared a quarterly dividend of $0.25 per share, with an upcoming payment date on November 17th.

LRI Investments LLC increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 162.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,546 shares of the company's stock after buying an additional 957 shares during the period. LRI Investments LLC's holdings in GE Vernova were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sachetta LLC boosted its holdings in GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company's stock worth $87,000 after buying an additional 16 shares in the last quarter. Highline Wealth Partners LLC boosted 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 buying an additional 18 shares in the last quarter. Atlas Brown Inc. boosted 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 buying an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of GE Vernova by 9.0% in the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after purchasing an additional 20 shares in the last quarter. Finally, West Branch Capital LLC lifted its holdings in shares of GE Vernova by 25.6% in the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after purchasing an additional 20 shares in the last quarter.

Insider Buying and Selling

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

GE Vernova Price Performance

NYSE:GEV opened at $606.30 on Friday. The firm has a 50 day simple moving average of $619.64 and a 200-day simple moving average of $509.80. The firm has a market cap of $165.05 billion, a PE ratio of 146.10, a P/E/G ratio of 4.40 and a beta of 1.72. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business 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 company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on GEV shares. Wells Fargo & Company upped their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Morgan Stanley upped their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Guggenheim downgraded shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $598.50.

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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