MBL Wealth LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• MBL Wealth LLC acquired a new position in GE Vernova Inc., purchasing 447 shares valued at approximately $237,000 during the second quarter.
• In a recent insider transaction, CFO Kenneth Scott Parks sold 3,300 shares at $620.00 each, reducing his holdings by over 30%.
• Several analysts raised their price targets for GE Vernova, with BMO Capital Markets increasing it to $690.00 and Jefferies Financial Group setting it at $668.00, while the stock currently holds an average "Moderate Buy" rating.

MBL Wealth LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 447 shares of the company's stock, valued at approximately $237,000.

Several other institutional investors also recently modified their holdings of GEV. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. IMA Advisory Services Inc. purchased a new position in GE Vernova in the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted 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 during the period. 1248 Management LLC bought a new position in shares of GE Vernova during the 1st quarter valued at $31,000. Finally, Saudi Central Bank purchased a new position in GE Vernova in the first quarter worth about $33,000.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was 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 in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Jefferies Financial Group upped their price target on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research report on Friday, September 12th. BMO Capital Markets increased their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Royal Bank Of Canada set a $605.00 target price on shares of GE Vernova and gave the company a "sector perform" rating in a report on Wednesday. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a "buy" rating and a $614.00 target price for the company. Finally, Susquehanna upped their price target on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $598.50.

GE Vernova Stock Down 1.8%

Shares of NYSE:GEV opened at $595.07 on Monday. The company has a market capitalization of $161.99 billion, a price-to-earnings ratio of 143.39, a price-to-earnings-growth ratio of 4.33 and a beta of 1.72. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a 50 day moving average of $623.21 and a 200 day moving average of $501.17.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly 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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The business'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. On average, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid 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 (DPR) is presently 24.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.