Mountain Pacific Investment Advisers LLC Invests $220,000 in GE Vernova Inc. $GEV

Key Points

• Mountain Pacific Investment Advisers LLC acquired a new stake in GE Vernova Inc., purchasing 416 shares valued at approximately $220,000 during the 2nd quarter.
• GE Vernova recently reported a quarterly earnings per share (EPS) of $1.86, exceeding analysts' expectations, and revenue of $9.11 billion, reflecting an 11.1% year-over-year increase.
• The company also announced a quarterly dividend of $0.25 per share, which will be paid on November 17th to stockholders of record on October 20th.

Mountain Pacific Investment Advisers LLC 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 SEC. The firm bought 416 shares of the company's stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of GE Vernova during the first quarter worth $912,000. Pines Wealth Management LLC purchased a new stake in GE Vernova during the 2nd quarter worth $408,000. Resona Asset Management Co. Ltd. lifted its holdings in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after buying an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new position in GE Vernova in the 1st quarter worth $458,000. Finally, Golden State Wealth Management LLC boosted its position in GE Vernova by 201.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after buying an additional 817 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm'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 value 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. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

GE Vernova Price Performance

GEV stock opened at $606.97 on Thursday. The firm has a market cap of $165.23 billion, a price-to-earnings ratio of 146.26, a PEG ratio of 4.48 and a beta of 1.74. GE Vernova Inc. has a 1-year low of $248.50 and a 1-year high of $677.29. The firm has a fifty day moving average price of $624.54 and a two-hundred day moving average price of $495.09.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the business posted $4.65 EPS. The company'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, analysts expect 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 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 dividend payout ratio is 24.10%.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. Bank of America lifted their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Jefferies Financial Group upped their target price on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research report on Friday, September 12th. Citigroup increased their target price on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, HSBC lifted their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. 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.com, the stock 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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