MGO One Seven LLC Acquires 2,717 Shares of GE Vernova Inc. $GEV

Key Points

• MGO One Seven LLC increased its stake in GE Vernova Inc. by 72.4% during Q2, acquiring an additional 2,717 shares, bringing its total holdings to 6,471 shares valued at approximately $3.4 million.
• GE Vernova recently reported earnings of $1.86 per share for the quarter, exceeding estimates, with revenue of $9.11 billion, an 11.1% increase year-over-year.
• The company announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend of $1.00 and a yield of 0.2%.

MGO One Seven LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 72.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,471 shares of the company's stock after acquiring an additional 2,717 shares during the quarter. MGO One Seven LLC's holdings in GE Vernova were worth $3,424,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GEV. Brighton Jones LLC lifted its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after acquiring an additional 753 shares during the period. GAMMA Investing LLC lifted its holdings in GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after acquiring an additional 542 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in GE Vernova by 35.4% in the first quarter. NorthCrest Asset Manangement LLC now owns 976 shares of the company's stock valued at $298,000 after acquiring an additional 255 shares during the period. Tritonpoint Wealth LLC lifted its holdings in GE Vernova by 15.0% in the first quarter. Tritonpoint Wealth LLC now owns 721 shares of the company's stock valued at $220,000 after acquiring an additional 94 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after acquiring an additional 98,034 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GEV shares. JPMorgan Chase & Co. increased their target price on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Jefferies Financial Group increased their target price on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a report on Friday, September 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of GE Vernova in a research note on Wednesday, October 8th. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective on the stock. in a research note on Monday, July 28th. Finally, Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Four 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $598.65.

GE Vernova Price Performance

NYSE GEV opened at $647.23 on Tuesday. The stock has a market capitalization of $176.19 billion, a PE ratio of 155.96, a P/E/G ratio of 4.38 and a beta of 1.72. The business has a 50 day simple moving average of $619.32 and a two-hundred day simple moving average of $513.65. 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 released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's payout ratio is 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company's stock.

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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