Secure Asset Management LLC Buys 933 Shares of GE Vernova Inc. $GEV

Key Points

• Secure Asset Management LLC increased its holdings in GE Vernova Inc. by 61% in Q2, now owning a total of 2,463 shares valued at approximately $1.3 million.
• Wall Street analysts have mixed reviews on GE Vernova, with ratings varying from a strong buy by Seaport Res Ptn to downgrades from Mizuho and Guggenheim, indicating uncertainty about the stock's future performance.
• GE Vernova recently announced a quarterly dividend of $0.25, contributing to an annualized yield of 0.2% and a payout ratio of 24.10%.

Secure Asset Management LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 61.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,463 shares of the company's stock after purchasing an additional 933 shares during the quarter. Secure Asset Management LLC's holdings in GE Vernova were worth $1,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the first quarter worth about $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the 1st quarter valued at approximately $27,000. Orion Capital Management LLC bought a new position in GE Vernova in the 4th quarter valued at approximately $30,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings 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. Finally, 1248 Management LLC bought a new position in GE Vernova in the 1st quarter valued at approximately $31,000.

Insider Activity

In related 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 value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Performance

Shares of GEV stock traded up $13.61 during trading hours on Friday, hitting $624.61. 4,104,917 shares of the company were exchanged, compared to its average volume of 3,488,367. The firm has a market cap of $170.03 billion, a P/E ratio of 150.51, a P/E/G ratio of 4.48 and a beta of 1.87. GE Vernova Inc. has a fifty-two week low of $242.25 and a fifty-two week high of $677.29. The company has a 50 day simple moving average of $615.40 and a two-hundred day simple moving average of $475.18.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate 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 last year, the firm posted $4.65 EPS. The company's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were issued 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 (DPR) is currently 24.10%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEV. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a "buy" rating in a report on Monday. Glj Research began coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. TD Cowen raised their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wolfe Research downgraded shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research report on Friday, June 13th. Finally, Barclays increased their target price on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $592.35.

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.