Optimize Financial Inc Makes New $221,000 Investment in GE Vernova Inc. $GEV

Key Points

• Optimize Financial Inc purchased a new stake in GE Vernova Inc. valued at approximately $221,000 during the first quarter, acquiring 724 shares.
• CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock for $2,046,000, which reduced his ownership by 30.30%.
• GE Vernova reported earnings of $1.86 EPS for the quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.25 per share.

Optimize Financial Inc purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 724 shares of the company's stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the first quarter worth $27,000. Orion Capital Management LLC acquired a new stake in shares of GE Vernova during the fourth quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC raised 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 worth $30,000 after acquiring an additional 53 shares during the period. Finally, Saudi Central Bank acquired a new stake in shares of GE Vernova during the first quarter worth $33,000.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on GEV shares. Barclays raised their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Bank of America raised their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group lifted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Robert W. Baird raised their price objective on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $580.04.

GE Vernova Trading Down 1.3%

Shares of GE Vernova stock traded down $8.16 during trading on Friday, hitting $625.99. 2,639,095 shares of the stock were exchanged, compared to its average volume of 3,511,795. The stock has a market capitalization of $170.41 billion, a price-to-earnings ratio of 150.84, a price-to-earnings-growth ratio of 4.45 and a beta of 1.87. The company has a fifty day moving average price of $606.48 and a 200-day moving average price of $465.05. 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, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for 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 for the quarter 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. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is 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.