NorthRock Partners LLC Buys 525 Shares of GE Vernova Inc. $GEV

Key Points

• NorthRock Partners LLC increased its stake in GE Vernova Inc. by 12.3% during Q2, owning 4,799 shares valued at approximately $2.54 million.
• CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova at $620 each, which decreased his position by 30.30%, leaving him with shares valued at around $4.7 million.
• GE Vernova has declared a quarterly dividend of $0.25 per share, with the ex-dividend date set for October 20th, indicating a 0.2% yield and a payout ratio of 24.10%.

NorthRock Partners LLC lifted its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,799 shares of the company's stock after purchasing an additional 525 shares during the quarter. NorthRock Partners LLC's holdings in GE Vernova were worth $2,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. EQ Wealth Advisors LLC purchased a new position in GE Vernova in the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the 1st quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of GE Vernova by 115.2% during the 1st 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 period. 1248 Management LLC bought a new stake in shares of GE Vernova during the 1st quarter valued at $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the 1st quarter worth $33,000.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated 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 $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 is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Down 4.4%

Shares of GEV stock opened at $606.30 on Monday. The stock has a market cap of $165.05 billion, a PE ratio of 146.10, a price-to-earnings-growth ratio of 4.38 and a beta of 1.72. The business has a 50-day simple moving average of $619.64 and a 200-day simple moving average of $511.24. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data 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. 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 company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analyst Weigh In

GEV has been the subject of several research reports. HSBC increased their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a report on Friday, September 5th. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Robert W. Baird upped their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Finally, Morgan Stanley raised their target price on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price 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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