McNamara Financial Services Inc. Buys Shares of 816 GE Vernova Inc. $GEV

Key Points

• McNamara Financial Services Inc. has purchased 816 shares of GE Vernova Inc., valued at approximately $432,000, indicating growing institutional interest in the company.
• GE Vernova recently reported earnings of $1.86 per share, surpassing analysts' expectations and showing an 11.1% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.25 per share, set to be paid on November 17th, with an annualized yield of 0.2%.

McNamara Financial Services Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 816 shares of the company's stock, valued at approximately $432,000.

A number of other institutional investors also recently modified their holdings of the stock. Alpha Financial Partners LLC acquired a new stake in shares of GE Vernova during the 2nd quarter valued at $230,000. LRI Investments LLC boosted its stake in shares of GE Vernova by 162.5% during the 2nd quarter. LRI Investments LLC now owns 1,546 shares of the company's stock valued at $818,000 after buying an additional 957 shares during the period. Gibson Capital LLC acquired a new stake in shares of GE Vernova during the 2nd quarter valued at $373,000. OFI Invest Asset Management lifted its stake in shares of GE Vernova by 8.1% in the 2nd quarter. OFI Invest Asset Management now owns 3,226 shares of the company's stock valued at $1,707,000 after purchasing an additional 241 shares during the last quarter. Finally, Lodestar Private Asset Management LLC bought a new stake in GE Vernova in the second quarter worth $207,000.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction 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 $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Price Performance

GE Vernova stock opened at $606.30 on Monday. The firm has a market cap of $165.05 billion, a price-to-earnings ratio of 146.10, a P/E/G ratio of 4.38 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm has a fifty day moving average price of $619.64 and a two-hundred day moving average price of $511.24.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The firm 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 business's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.65 EPS. 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 year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GEV shares. Susquehanna upped their price objective 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. Weiss Ratings reiterated a "hold (c)" rating on shares of GE Vernova in a report on Wednesday, October 8th. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Wells Fargo & Company upped their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently 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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