Parisi Gray Wealth Management Has $1.27 Million Stock Holdings in GE Vernova Inc. $GEV

Key Points

• Parisi Gray Wealth Management increased its holdings in GE Vernova Inc. by 47.6% in Q2, now owning shares worth $1.27 million.
• Analysts have mixed reviews on GE Vernova, with four giving it a Strong Buy, while the average rating is a Moderate Buy and a consensus target price of $580.04.
• GE Vernova reported $1.86 earnings per share for the last quarter, surpassing expectations, while its revenue increased by 11.1% year over year.

Parisi Gray Wealth Management lifted its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 47.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,408 shares of the company's stock after buying an additional 777 shares during the quarter. Parisi Gray Wealth Management's holdings in GE Vernova were worth $1,274,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Northstar Advisory Group LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $1,501,000. Dover Advisors LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at approximately $303,000. Davis Investment Partners LLC grew its holdings in shares of GE Vernova by 2.0% during the 2nd quarter. Davis Investment Partners LLC now owns 2,051 shares of the company's stock valued at $1,038,000 after purchasing an additional 40 shares during the last quarter. Adamsbrown Wealth Consultants LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at approximately $309,000. Finally, Silverleafe Capital Partners LLC bought a new stake in shares of GE Vernova during the 2nd quarter valued at approximately $307,000.

Wall Street Analyst Weigh In

GEV has been the topic of several research reports. TD Cowen lifted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Finally, Robert W. Baird lifted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $580.04.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $625.99 on Monday. The company has a market capitalization of $170.41 billion, a P/E ratio of 150.84, a price-to-earnings-growth ratio of 4.32 and a beta of 1.88. GE Vernova Inc. has a 52-week low of $219.01 and a 52-week high of $677.29. The company's 50 day moving average price is $608.65 and its 200-day moving average price is $469.09.

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 the consensus estimate of $1.63 by $0.23. The company 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 for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders 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 annualized dividend and a dividend yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on 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 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 legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.