Market Street Wealth Management Advisors LLC Takes Position in GE Vernova Inc. $GEV

Market Street Wealth Management Advisors LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 511 shares of the company's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlas Brown Inc. raised its stake in GE Vernova by 0.8% in 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. Westover Capital Advisors LLC raised its stake in GE Vernova by 2.3% in the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after buying an additional 25 shares in the last quarter. SVB Wealth LLC raised its stake in GE Vernova by 0.7% in the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after buying an additional 26 shares in the last quarter. Stonebridge Financial Group LLC raised its stake in GE Vernova by 8.9% in the first quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after buying an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in GE Vernova by 0.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after buying an additional 30 shares in the last quarter.

GE Vernova Trading Up 0.4%

Shares of NYSE:GEV opened at $628.09 on Tuesday. GE Vernova Inc. has a twelve month low of $225.24 and a twelve month high of $677.29. The company's 50 day moving average is $610.59 and its 200 day moving average is $471.14. The company has a market cap of $170.98 billion, a PE ratio of 151.35, a price-to-earnings-growth ratio of 4.32 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the previous year, the company posted $4.65 earnings per share. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts predict 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 was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GEV. BMO Capital Markets boosted their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Robert W. Baird boosted their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a "buy" rating in a research note on Monday. Citigroup boosted their price objective 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. Finally, Bank of America boosted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova 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.

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