Register Financial Advisors LLC Purchases New Stake in GE Vernova Inc. $GEV

Key Points

• Register Financial Advisors LLC has acquired a new stake in GE Vernova Inc. by purchasing 602 shares for approximately $319,000 during the second quarter, according to the latest SEC filing.
• GE Vernova received a range of ratings from analysts, with Melius Research setting a price target of $740.00 and multiple firms issuing both buy and hold ratings.
• The company recently declared a quarterly dividend of $0.25 per share, which will be paid on November 17th, reflecting a dividend yield of 0.2%.

Register Financial Advisors LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 602 shares of the company's stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Essex Financial Services Inc. grew its stake in GE Vernova by 1.7% in the second quarter. Essex Financial Services Inc. now owns 6,529 shares of the company's stock valued at $3,455,000 after purchasing an additional 110 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of GE Vernova by 9.6% during the 2nd quarter. Perigon Wealth Management LLC now owns 4,552 shares of the company's stock worth $2,409,000 after acquiring an additional 397 shares in the last quarter. Octavia Wealth Advisors LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth about $231,000. Magnus Financial Group LLC boosted its stake in shares of GE Vernova by 4.0% during the 2nd quarter. Magnus Financial Group LLC now owns 828 shares of the company's stock worth $438,000 after acquiring an additional 32 shares in the last quarter. Finally, Kennedy Investment Group bought a new stake in shares of GE Vernova during the 2nd quarter worth about $209,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent analyst reports. Melius Research set a $740.00 price target on GE Vernova and gave the stock a "buy" rating in a research note on Monday, September 15th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley lifted 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. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a research report on Monday, July 28th. Finally, The Goldman Sachs Group upped their price target on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $592.35.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

GE Vernova Trading Down 0.4%

Shares of GEV opened at $605.21 on Friday. GE Vernova Inc. has a 1 year low of $248.50 and a 1 year high of $677.29. The stock has a 50 day simple moving average of $622.99 and a 200-day simple moving average of $488.82. The stock has a market cap of $164.75 billion, a PE ratio of 145.83, a PEG ratio of 4.43 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the prior year, the firm posted $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio is 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.

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