Revolve Wealth Partners LLC Purchases New Stake in GE Vernova Inc. $GEV

Key Points

• Revolve Wealth Partners LLC acquired 564 shares of GE Vernova Inc. during the 2nd quarter, valued at approximately $298,000.
• Analysts have raised their price targets for GE Vernova, with Barclays increasing it from $580 to $706 and Wells Fargo adjusting theirs from $474 to $697.
• GE Vernova announced a dividend of $0.25 per share to be paid on November 17th, with an ex-dividend date of October 20th.

Revolve Wealth Partners LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 564 shares of the company's stock, valued at approximately $298,000.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in GE Vernova in the 1st quarter worth about $912,000. Pines Wealth Management LLC acquired a new position in GE Vernova in the 2nd quarter worth about $408,000. Resona Asset Management Co. Ltd. increased its position in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after purchasing an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new position in GE Vernova in the 1st quarter worth about $458,000. Finally, Golden State Wealth Management LLC increased its position in GE Vernova by 201.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after purchasing an additional 817 shares during the last quarter.

Insiders Place Their Bets

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 completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GEV has been the topic of several research reports. Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $605.00 price target on GE Vernova and gave the stock a "sector perform" rating in a research note on Wednesday, October 1st. Morgan Stanley upped their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price target on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 price target for the company in a research note on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $598.65.

GE Vernova Stock Up 7.1%

Shares of NYSE:GEV opened at $647.23 on Tuesday. The business has a 50 day moving average price of $619.32 and a 200 day moving average price of $513.65. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a market cap of $176.19 billion, a price-to-earnings ratio of 155.96, a PEG ratio of 4.38 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating 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 the consensus estimate of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

GE Vernova Company 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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