NewEdge Advisors LLC Raises Holdings in GE Vernova Inc. $GEV

Key Points

• NewEdge Advisors LLC increased its holdings in GE Vernova Inc. by 12.7% during the first quarter, owning 29,078 shares worth approximately $8.87 million at the end of the reporting period.
• Several hedge funds adjusted their positions in GE Vernova, with notable increases from Hemington Wealth Management by 20.3% and Westover Capital Advisors by 2.3%.
• The company's stock received mixed reviews from analysts, with Morgan Stanley raising its target price to $675 while Guggenheim decreased its rating to neutral.

NewEdge Advisors LLC grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,078 shares of the company's stock after buying an additional 3,275 shares during the quarter. NewEdge Advisors LLC's holdings in GE Vernova were worth $8,877,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Westover Capital Advisors LLC lifted its holdings in shares of GE Vernova by 2.3% in the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after buying an additional 25 shares during the period. SVB Wealth LLC lifted its holdings in shares of GE Vernova by 0.7% in the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after buying an additional 26 shares during the period. Stonebridge Financial Group LLC lifted its holdings in shares of GE Vernova by 8.9% in the 1st quarter. Stonebridge Financial Group LLC now owns 344 shares of the company's stock worth $105,000 after buying an additional 28 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of GE Vernova by 0.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 8,510 shares of the company's stock worth $2,598,000 after buying an additional 30 shares during the period. Finally, Hemington Wealth Management lifted its holdings in shares of GE Vernova by 20.3% in the 1st quarter. Hemington Wealth Management now owns 178 shares of the company's stock worth $54,000 after buying an additional 30 shares during the period.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated 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 directly owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. Morgan Stanley upped their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Guggenheim lowered GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Bank of America boosted their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $573.75.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $581.92 on Monday. The business's 50-day moving average is $597.95 and its 200 day moving average is $458.69. GE Vernova Inc. has a 1 year low of $193.38 and a 1 year high of $677.29. The firm has a market capitalization of $158.41 billion, a P/E ratio of 140.22, a P/E/G ratio of 4.02 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the company posted $4.65 EPS. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

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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