Rice Partnership LLC Makes New Investment in GE Vernova Inc. $GEV

Rice Partnership LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,314 shares of the company's stock, valued at approximately $4,399,000.

Other hedge funds have also bought and sold shares of the company. EQ Wealth Advisors LLC purchased a new stake in GE Vernova in the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares during the period. 1248 Management LLC acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $33,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GEV shares. Morgan Stanley upped their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Weiss Ratings reissued a "hold (c)" rating on shares of GE Vernova in a research note on Wednesday. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, BMO Capital Markets increased their price objective on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $598.50.

GE Vernova Stock Up 3.2%

Shares of NYSE:GEV opened at $625.47 on Thursday. The business has a fifty day moving average of $621.18 and a two-hundred day moving average of $504.60. The stock has a market cap of $170.27 billion, a P/E ratio of 150.72, a PEG ratio of 4.41 and a beta of 1.72. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

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, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during 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%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued 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 dividend yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Insider Buying and Selling at GE Vernova

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

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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