Park Capital Management LLC WI Buys New Position in GE Vernova Inc. $GEV

Key Points

• Park Capital Management LLC invested approximately $475,000 in GE Vernova Inc. by purchasing 897 shares, marking a notable entry by the institutional investor during the second quarter.
• GE Vernova's CFO, Kenneth Scott Parks, sold 3,300 shares of stock valued at $2,046,000, which represents a significant 30.30% decrease in his ownership of the company.
• Despite a slight stock decline of 0.5%, GE Vernova reported strong quarterly earnings, beating estimates with $1.86 EPS on revenue of $9.11 billion, an 11.1% year-over-year increase.

Park Capital Management LLC WI purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 897 shares of the company's stock, valued at approximately $475,000.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in GE Vernova during the first quarter worth $912,000. Resona Asset Management Co. Ltd. boosted its stake in GE Vernova by 8.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after acquiring an additional 6,551 shares during the last quarter. Pines Wealth Management LLC purchased a new position in GE Vernova in the second quarter valued at about $408,000. Lockheed Martin Investment Management Co. purchased a new position in GE Vernova in the first quarter valued at about $458,000. Finally, Golden State Wealth Management LLC boosted its stake in GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after acquiring an additional 817 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Barclays upped their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Glj Research initiated coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target on the stock in a research note on Monday, September 15th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $592.35.

GE Vernova Stock Up 2.2%

Shares of NYSE:GEV traded up $13.61 on Friday, hitting $624.61. The company had a trading volume of 4,104,917 shares, compared to its average volume of 2,689,348. The firm's 50-day simple moving average is $617.11 and its two-hundred day simple moving average is $478.45. GE Vernova Inc. has a 1 year low of $242.25 and a 1 year high of $677.29. The firm has a market capitalization of $170.03 billion, a price-to-earnings ratio of 150.51, a P/E/G ratio of 4.55 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same period last year, the company posted $4.65 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is 24.10%.

Insider Transactions at GE Vernova

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