Pines Wealth Management LLC Purchases New Position in GE Vernova Inc. $GEV

Key Points

• Pines Wealth Management LLC has acquired a new stake in GE Vernova Inc., purchasing 790 shares valued at approximately $408,000.
• Multiple analysts have recently upgraded GE Vernova's stock, with price targets reaching as high as $740.00 and a consensus rating of "Moderate Buy."
• GE Vernova reported a 11.1% year-over-year revenue increase to $9.11 billion and topped earnings estimates with $1.86 per share in the latest quarterly results.

Pines Wealth Management LLC bought 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 Securities and Exchange Commission (SEC). The fund bought 790 shares of the company's stock, valued at approximately $408,000.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the period. American Assets Inc. acquired a new position in shares of GE Vernova in the 4th quarter valued at $658,000. Two Sigma Advisers LP acquired a new position in shares of GE Vernova in the 4th quarter valued at $17,729,000. Westwood Holdings Group Inc. boosted its position in shares of GE Vernova by 216.9% in the 4th quarter. Westwood Holdings Group Inc. now owns 13,887 shares of the company's stock valued at $4,568,000 after purchasing an additional 9,505 shares during the period. Finally, Woodline Partners LP acquired a new position in shares of GE Vernova in the 4th quarter valued at $5,445,000.

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 that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GEV. Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Wolfe Research lowered GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. HSBC increased their price target on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research report on Friday, September 5th. Bank of America raised their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Susquehanna raised their price objective on GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Four 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Stock Up 2.2%

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

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly 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 return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the previous year, the business posted $4.65 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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