Prime Capital Investment Advisors LLC Sells 850 Shares of GE Vernova Inc. $GEV

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in GE Vernova by 850 shares, representing a 2.2% decrease in holdings.
• GE Vernova is experiencing positive analyst sentiment, with several firms increasing their price targets, leading to a consensus rating of "Moderate Buy" and a target price of $598.50.
• The company announced a quarterly dividend of $0.25, payable on November 17th, reflecting a 0.2% yield.

Prime Capital Investment Advisors LLC lessened its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,543 shares of the company's stock after selling 850 shares during the period. Prime Capital Investment Advisors LLC's holdings in GE Vernova were worth $20,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in shares of GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in GE Vernova by 96.1% in the 1st quarter. Sivia Capital Partners LLC now owns 1,255 shares of the company's stock valued at $383,000 after buying an additional 615 shares in the last quarter. Orrstown Financial Services Inc. increased its position in GE Vernova by 36.3% during the 1st quarter. Orrstown Financial Services Inc. now owns 2,755 shares of the company's stock worth $841,000 after buying an additional 734 shares during the period. Wedmont Private Capital boosted its position in shares of GE Vernova by 3.0% in the first quarter. Wedmont Private Capital now owns 4,263 shares of the company's stock valued at $1,370,000 after acquiring an additional 126 shares during the period. Finally, UMB Bank n.a. increased its position in GE Vernova by 9.7% during the first quarter. UMB Bank n.a. now owns 2,129 shares of the company's stock worth $650,000 after acquiring an additional 189 shares during the period.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction 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 sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GEV. Wells Fargo & Company boosted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Morgan Stanley increased their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets increased their target price on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Robert W. Baird boosted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of GE Vernova in a research note on Saturday, September 27th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus target price of $598.50.

GE Vernova Trading Down 1.8%

Shares of GEV stock opened at $595.07 on Monday. The business's 50-day moving average price is $623.21 and its 200-day moving average price is $501.17. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The firm has a market capitalization of $161.99 billion, a price-to-earnings ratio of 143.39, a PEG ratio of 4.33 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for 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%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

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.

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