Phillips Wealth Planners LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• Phillips Wealth Planners LLC has purchased 607 shares of GE Vernova Inc., valued at approximately $322,000, indicating growing interest from institutional investors in the company.
• GE Vernova recently reported $1.86 earnings per share for its latest quarter, surpassing analyst expectations, and setting its FY 2025 EPS guidance.
• Several analysts have upgraded their ratings for GE Vernova, with Melius raising the stock from "hold" to "buy" and setting a price target of $740.00.

Phillips Wealth Planners LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 607 shares of the company's stock, valued at approximately $322,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the first quarter worth approximately $27,000. Orion Capital Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter worth approximately $30,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the first quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of 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 purchasing an additional 53 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of GE Vernova in the first quarter worth approximately $31,000.

GE Vernova Stock Performance

Shares of GEV traded up $13.61 during mid-day trading on Friday, reaching $624.61. The company had a trading volume of 4,104,917 shares, compared to its average volume of 2,689,348. GE Vernova Inc. has a 52 week low of $242.25 and a 52 week high of $677.29. The company has a market capitalization of $170.03 billion, a price-to-earnings ratio of 150.51, a price-to-earnings-growth ratio of 4.55 and a beta of 1.87. The firm has a 50-day moving average price of $617.11 and a 200 day moving average price of $478.45.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the business posted $4.65 EPS. GE Vernova's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is presently 24.10%.

Analyst Ratings Changes

GEV has been the subject of a number of research analyst reports. Barclays increased their price target on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Robert W. Baird increased their price target on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" 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 price target on GE Vernova and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $592.35.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's 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 sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company's stock.

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.