Modern Wealth Management LLC Has $701,000 Position in GE Vernova Inc. $GEV

Key Points

• Modern Wealth Management LLC has increased its stake in GE Vernova Inc. by 33.1%, now owning shares valued at $701,000.
• Several analysts recently upgraded their ratings for GE Vernova, with Wells Fargo raising its price target from $474.00 to $697.00 and issuing an "overweight" rating.
• GE Vernova's latest earnings report showed a net margin of 3.16% and revenue up 11.1% year-over-year, with earnings per share surpassing consensus estimates.

Modern Wealth Management LLC grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 33.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,296 shares of the company's stock after purchasing an additional 571 shares during the period. Modern Wealth Management LLC's holdings in GE Vernova were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the first quarter valued at $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova during the first quarter valued at $27,000. Orion Capital Management LLC bought a new position in shares of GE Vernova during the fourth quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of 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 acquiring an additional 53 shares during the last quarter. Finally, Saudi Central Bank bought a new position in shares of GE Vernova during the first quarter valued at $33,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Wells Fargo & Company boosted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Mizuho downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research report on Monday, July 28th. BMO Capital Markets boosted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Bank of America boosted their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $580.04.

GE Vernova Stock Down 1.3%

NYSE:GEV opened at $625.99 on Monday. The company has a fifty day moving average of $608.65 and a 200-day moving average of $469.09. The firm has a market capitalization of $170.41 billion, a P/E ratio of 150.84, a P/E/G ratio of 4.32 and a beta of 1.88. GE Vernova Inc. has a twelve month low of $219.01 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data 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 company 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%. GE Vernova's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were paid a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Insider Buying and Selling at GE Vernova

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 sale, 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 SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

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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