1,027 Shares in GE Vernova Inc. $GEV Purchased by Rollins Financial Advisors LLC

Key Points

• Rollins Financial Advisors LLC has acquired a new position in GE Vernova Inc., purchasing 1,027 shares valued at approximately $314,000 in the first quarter.
• Wall Street analysts foresee growth for GE Vernova, with Goldman Sachs raising its price target from $500 to $570 and establishing a "buy" rating.
• In recent insider activity, CFO Kenneth Scott Parks sold 3,300 shares for over $2 million, resulting in a significant decrease in his ownership stake in the company.

Rollins Financial Advisors LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,027 shares of the company's stock, valued at approximately $314,000.

Several other hedge funds have also recently modified their holdings of GEV. Caitong International Asset Management Co. Ltd purchased a new stake in GE Vernova during the first quarter valued at $912,000. Resona Asset Management Co. Ltd. grew its holdings in shares of GE Vernova by 8.2% in the first 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. bought a new position in shares of GE Vernova in the first quarter worth about $458,000. Golden State Wealth Management LLC grew its holdings in shares of GE Vernova by 201.7% in the first 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. Finally, Public Sector Pension Investment Board grew its holdings in shares of GE Vernova by 8.5% in the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after purchasing an additional 2,942 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GEV. Citigroup increased their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. HSBC lifted their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Wells Fargo & Company lifted their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Susquehanna lifted their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $580.04.

GE Vernova Price Performance

NYSE GEV traded down $8.16 on Friday, hitting $625.99. The company had a trading volume of 2,639,095 shares, compared to its average volume of 2,773,724. The company has a market capitalization of $170.41 billion, a PE ratio of 150.84, a PEG ratio of 4.38 and a beta of 1.87. The company's fifty day moving average price is $608.65 and its 200-day moving average price is $467.18. GE Vernova Inc. has a 12-month low of $219.01 and a 12-month high of $677.29.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova's dividend payout ratio is 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.