Montgomery Investment Management Inc. Buys Shares of 549 GE Vernova Inc. $GEV

Key Points

• Montgomery Investment Management Inc. acquired 549 shares of GE Vernova Inc. valued at approximately $291,000 during the second quarter, reflecting growing institutional interest in the company.
• GE Vernova reported earnings of $1.86 per share for the last quarter, surpassing analysts' expectations of $1.63, alongside a significant revenue increase of 11.1% year-over-year.
• The company announced a quarterly dividend of $0.25 per share, with the ex-dividend date set for October 20th, highlighting its commitment to returning value to shareholders.

Montgomery Investment Management Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 549 shares of the company's stock, valued at approximately $291,000.

Other institutional investors also recently modified their holdings of the company. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the first quarter valued at $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the first quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC purchased a new position in shares of GE Vernova in the first quarter worth approximately $31,000. Finally, Saudi Central Bank purchased a new position in shares of GE Vernova during the 1st quarter worth $33,000.

GE Vernova Stock Performance

Shares of GEV opened at $606.97 on Thursday. The company's fifty day moving average is $624.54 and its 200 day moving average is $495.09. GE Vernova Inc. has a fifty-two week low of $248.50 and a fifty-two week high of $677.29. The stock has a market capitalization of $165.23 billion, a PE ratio of 146.26, a P/E/G ratio of 4.48 and a beta of 1.74.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the previous year, the firm posted $4.65 EPS. The business's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. 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 news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction that occurred on 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent research reports. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Wells Fargo & Company raised their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price on the stock in a research note on Monday, September 15th. Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets raised their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average price target of $598.50.

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.