Sagace Wealth Management LLC Purchases New Position in GE Vernova Inc. $GEV

Key Points

• Sagace Wealth Management LLC has acquired a new position in GE Vernova Inc., purchasing 434 shares valued at approximately $230,000 during the second quarter.
• Research analysts are optimistic about GE Vernova, with four analysts rating it as a Strong Buy and a consensus target price of $598.65.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, reflecting a dividend yield of 0.2% and a payout ratio of 24.10%.

Sagace Wealth Management LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 434 shares of the company's stock, valued at approximately $230,000.

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Glj Research assumed coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. 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 research report on Thursday, July 24th. Susquehanna increased their target price on shares of GE Vernova from $736.00 to $740.00 and gave the stock a "positive" rating in a research report on Monday. JPMorgan Chase & Co. increased their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company increased their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $598.65.

GE Vernova Trading Down 0.6%

Shares of GE Vernova stock opened at $644.54 on Wednesday. The company has a 50 day moving average of $619.21 and a 200-day moving average of $514.56. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a market cap of $175.46 billion, a PE ratio of 155.31, a price-to-earnings-growth ratio of 4.69 and a beta of 1.72.

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

GE Vernova Dividend Announcement

The company 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova's dividend payout ratio is 24.10%.

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 that occurred on Tuesday, August 26th. The shares were 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 of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company's stock.

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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