Sagespring Wealth Partners LLC Acquires 2,706 Shares of GE Vernova Inc. $GEV

Key Points

• Sagespring Wealth Partners LLC increased its holdings in GE Vernova Inc. by 97.2% during Q2, now owning a total of 5,489 shares valued at $2.9 million.
• Analysts have raised their price targets for GE Vernova, with Citigroup and Morgan Stanley setting new targets at $670 and $675 respectively.
• GE Vernova has declared a $0.25 quarterly dividend to be paid on November 17, equating to an annualized yield of 0.2% based on an October 20 record date.

Sagespring Wealth Partners LLC grew its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 97.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,489 shares of the company's stock after purchasing an additional 2,706 shares during the period. Sagespring Wealth Partners LLC's holdings in GE Vernova were worth $2,904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TD Asset Management Inc increased its stake in shares of GE Vernova by 0.6% in the 2nd quarter. TD Asset Management Inc now owns 931,997 shares of the company's stock valued at $493,166,000 after purchasing an additional 5,155 shares during the last quarter. Frazier Financial Advisors LLC increased its stake in shares of GE Vernova by 95.8% in the 2nd quarter. Frazier Financial Advisors LLC now owns 186 shares of the company's stock valued at $98,000 after purchasing an additional 91 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of GE Vernova by 10.8% in the 2nd quarter. Wilmington Savings Fund Society FSB now owns 9,759 shares of the company's stock valued at $5,164,000 after purchasing an additional 950 shares during the last quarter. RFG Advisory LLC bought a new position in shares of GE Vernova in the 2nd quarter valued at $267,000. Finally, Axxcess Wealth Management LLC increased its stake in shares of GE Vernova by 17.3% in the 2nd quarter. Axxcess Wealth Management LLC now owns 6,591 shares of the company's stock valued at $3,488,000 after purchasing an additional 972 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. Citigroup lifted their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Morgan Stanley upped their target price on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price for the company. in a report on Monday, July 28th. TD Cowen upped their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $598.65.

GE Vernova Trading Down 0.6%

NYSE GEV opened at $644.54 on Wednesday. The business's 50-day moving average price is $619.21 and its two-hundred day moving average price is $514.56. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The firm has a market capitalization 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 released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The business's revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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 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 is Monday, October 20th. GE Vernova's payout ratio is 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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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