McAdam LLC Invests $330,000 in GE Vernova Inc. $GEV

Key Points

• McAdam LLC has invested $330,000 in GE Vernova Inc. by purchasing 623 shares during the second quarter of 2023.
• Several other institutional investors also acquired positions in GE Vernova, with investments totaling over $1.2 million in the same quarter.
• Analysts have raised price targets for GE Vernova, with Bank of America and JPMorgan raising their targets to $620.00 and $715.00 respectively, while the stock received a consensus rating of "Moderate Buy."

McAdam LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 623 shares of the company's stock, valued at approximately $330,000.

A number of other large investors have also made changes to their positions in the business. Santori & Peters Inc. acquired a new position in shares of GE Vernova during the second quarter worth $341,000. Beacon Investment Advisory Services Inc. acquired a new position in shares of GE Vernova in the 2nd quarter valued at $657,000. Postrock Partners LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $289,000. Verum Partners LLC increased its position in shares of GE Vernova by 21.0% in the 2nd quarter. Verum Partners LLC now owns 848 shares of the company's stock valued at $449,000 after acquiring an additional 147 shares during the period. Finally, Wealth Effects LLC boosted its holdings in GE Vernova by 47.2% in the second quarter. Wealth Effects LLC now owns 1,674 shares of the company's stock valued at $886,000 after purchasing an additional 537 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank of America increased their target price 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. 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 research note on Thursday, July 24th. Barclays increased their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Susquehanna raised their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Stock Down 0.4%

Shares of GE Vernova stock opened at $605.21 on Friday. GE Vernova Inc. has a 52-week low of $248.50 and a 52-week high of $677.29. The company's 50-day simple moving average is $622.99 and its 200-day simple moving average is $488.82. The firm has a market cap of $164.75 billion, a price-to-earnings ratio of 145.83, a price-to-earnings-growth ratio of 4.43 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly 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. 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 business posted $4.65 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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