RFG Advisory LLC Buys Shares of 504 GE Vernova Inc. $GEV

Key Points

• RFG Advisory LLC has acquired a new position in GE Vernova Inc. by purchasing 504 shares valued at approximately $267,000, as reported in their 13F filing with the SEC.
• Insider activity noted that CFO Kenneth Scott Parks sold 3,300 shares for $2,046,000, reflecting a significant reduction in his position by 30.30%.
• Various analysts have raised their price targets for GE Vernova shares, with JPMorgan Chase increasing their target from $620.00 to $715.00, indicating a consensus rating of "Moderate Buy."

RFG Advisory LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 504 shares of the company's stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. EQ Wealth Advisors LLC purchased a new position in GE Vernova during the 1st quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the first quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of GE Vernova by 115.2% during 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 in the last quarter. 1248 Management LLC purchased a new position in shares of GE Vernova in the first quarter valued at approximately $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova in the first quarter valued at approximately $33,000.

Insider Buying and Selling at GE Vernova

In other 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 value of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GEV shares. Robert W. Baird increased their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Barclays boosted their price target on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. HSBC increased their price objective on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research note on Friday, September 5th. Rothschild & Co Redburn reissued a "sell" rating and set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Finally, JPMorgan Chase & Co. upped their price target on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, GE Vernova currently has a consensus rating of "Moderate Buy" and an average price target of $592.61.

GE Vernova Trading Down 0.4%

Shares of GEV stock opened at $599.62 on Monday. The firm has a fifty day moving average price of $616.42 and a 200 day moving average price of $522.14. The company has a market cap of $163.23 billion, a P/E ratio of 144.49, a PEG ratio of 4.34 and a beta of 1.72. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

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

GE Vernova Announces Dividend

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

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.