OMNI 360 Wealth Inc. Purchases New Position in GE Vernova Inc. $GEV

Key Points

• OMNI 360 Wealth Inc. acquired 526 shares of GE Vernova Inc. (NYSE: GEV), totaling about $278,000, marking its new investment in the company.
• GE Vernova reported $1.86 earnings per share for its latest quarter, surpassing analyst estimates of $1.63, with revenue increasing by 11.1% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 0.2% with a pay-out ratio of 24.10%.

OMNI 360 Wealth Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 526 shares of the company's stock, valued at approximately $278,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova during the first quarter worth approximately $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the 1st quarter worth $27,000. Orion Capital Management LLC bought a new position in shares of GE Vernova in the fourth quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. Finally, 1248 Management LLC bought a new stake in GE Vernova during the first quarter worth about $31,000.

GE Vernova Price Performance

Shares of GEV opened at $625.99 on Monday. The stock's fifty day moving average price is $608.65 and its two-hundred day moving average price is $469.09. The firm has a market cap of $170.41 billion, a PE ratio of 150.84, a PEG ratio of 4.32 and a beta of 1.88. GE Vernova Inc. has a 1 year low of $219.01 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova's revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $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 company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is 24.10%.

Insider Activity

In related 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 value of $2,046,000.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group raised their target price on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Wells Fargo & Company raised their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Jefferies Financial Group boosted their target price on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, Glj Research began coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $580.04.

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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