Owen LaRue LLC Takes $1.42 Million Position in GE Vernova Inc. $GEV

Key Points

• Owen LaRue LLC has made a significant investment in GE Vernova Inc., acquiring 2,683 shares valued at approximately $1.42 million during the second quarter.
• Several investment firms, including Morgan Stanley and JPMorgan Chase & Co., have increased their price targets for GE Vernova, with ratings shifting toward "overweight" for the stock.
• GE Vernova announced a quarterly dividend of $0.25, scheduled to be paid on November 17th, reflecting a dividend yield of 0.2%.

Owen LaRue LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,683 shares of the company's stock, valued at approximately $1,420,000.

Other hedge funds have also recently added to or reduced their stakes in the company. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the first quarter worth approximately $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova in the first quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares during the last quarter. 1248 Management LLC acquired a new position in GE Vernova in the first quarter worth approximately $31,000. Finally, Saudi Central Bank acquired a new position in GE Vernova in the first quarter worth approximately $33,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GEV. Morgan Stanley increased their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Glj Research initiated coverage on GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Melius Research set a $740.00 target price on GE Vernova and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Bank of America upped their target price 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, twenty have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $592.35.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

GE Vernova Price Performance

Shares of GEV stock opened at $606.80 on Friday. The stock has a market cap of $165.18 billion, a P/E ratio of 146.22, a price-to-earnings-growth ratio of 4.58 and a beta of 1.87. GE Vernova Inc. has a one year low of $247.07 and a one year high of $677.29. The stock has a fifty day moving average price of $622.39 and a 200 day moving average price of $486.60.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm 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%.GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

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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