OMC Financial Services LTD Makes New $2.97 Million Investment in GE Vernova Inc. $GEV

Key Points

• OMC Financial Services LTD has made a new investment in GE Vernova Inc., acquiring 5,610 shares valued at approximately $2.97 million, which now represents about 1.2% of their total holdings.
• Research analysts have issued mixed ratings on GE Vernova, with price targets ranging from $580 to $740, reflecting a consensus rating of "Moderate Buy".
• The company recently reported earnings of $1.86 per share, exceeding analyst expectations, along with a revenue increase of 11.1% year-over-year.

OMC Financial Services LTD acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,610 shares of the company's stock, valued at approximately $2,969,000. GE Vernova comprises about 1.2% of OMC Financial Services LTD's holdings, making the stock its 23rd largest holding.

Several other institutional investors also recently made changes to their positions in the stock. IMA Advisory Services Inc. acquired a new position in GE Vernova during the 1st quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings 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 period. 1248 Management LLC bought a new position in shares of GE Vernova during the first quarter worth about $31,000. Saudi Central Bank bought a new stake in GE Vernova in the 1st quarter valued at about $33,000. Finally, Ransom Advisory Ltd acquired a new position in shares of GE Vernova during the first quarter worth approximately $33,000.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GEV shares. HSBC increased their price target on GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Jefferies Financial Group increased their target price on shares of GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research report on Friday, September 12th. Rothschild Redb cut shares of GE Vernova from a "hold" rating to a "strong sell" rating in a research note on Wednesday, October 15th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target for the company in a research note on Monday, September 15th. Finally, Robert W. Baird boosted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $601.44.

GE Vernova Price Performance

NYSE GEV opened at $585.12 on Wednesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company has a market capitalization of $159.28 billion, a P/E ratio of 140.99, a PEG ratio of 4.30 and a beta of 1.72. The company's 50 day simple moving average is $613.83 and its 200 day simple moving average is $524.82.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly 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 analysts' expectations of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. On average, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm 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 $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by company insiders.

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.

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