Sage Rhino Capital LLC Purchases New Shares in GE Vernova Inc. $GEV

Key Points

• Sage Rhino Capital LLC has acquired a new position in GE Vernova Inc. during the 2nd quarter, purchasing 557 shares valued at approximately $295,000.
• Equities research analysts have upgraded GE Vernova's ratings, with Melius raising its rating from "hold" to "buy" and setting a price target of $740, while Wells Fargo increased its target from $474 to $697.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, to be paid on November 17th, indicating a yield of 0.2% and a payout ratio of 24.10%.

Sage Rhino Capital LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 557 shares of the company's stock, valued at approximately $295,000.

A number of other institutional investors also recently bought and sold shares of the business. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova during the first quarter worth about $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova during the 1st quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in 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 acquiring an additional 53 shares during the period. 1248 Management LLC acquired a new stake in GE Vernova during the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank purchased a new position in shares of GE Vernova in the 1st quarter valued at approximately $33,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. 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. Wells Fargo & Company upped their price objective 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. Citigroup raised their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Glj Research started coverage on shares of GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. Finally, Susquehanna increased their price target on shares of GE Vernova from $662.00 to $736.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $592.35.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was 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 $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Down 0.4%

Shares of GEV opened at $605.21 on Friday. GE Vernova Inc. has a 52-week low of $248.50 and a 52-week high of $677.29. The company has a 50-day simple moving average of $622.99 and a 200-day simple moving average of $490.14. The company has a market capitalization of $164.75 billion, a PE ratio of 145.83, a P/E/G ratio of 4.41 and a beta of 1.87.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. 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.

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