Stratos Wealth Partners LTD. Acquires 5,664 Shares of GE Vernova Inc. $GEV

Key Points

• Stratos Wealth Partners LTD. increased its holdings in GE Vernova Inc. by 102.6%, acquiring an additional 5,664 shares, bringing their total to 11,182 shares valued at approximately $5.9 million.
• GE Vernova recently reported quarterly earnings of $1.86 per share, surpassing analyst expectations, and achieved a quarterly revenue of $9.11 billion, marking an 11.1% increase year-over-year.
• The company declared a quarterly dividend of $0.25, with an ex-dividend date of October 20th, resulting in an annualized yield of 0.2% and a payout ratio of 24.10%.

Stratos Wealth Partners LTD. lifted its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 102.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,182 shares of the company's stock after acquiring an additional 5,664 shares during the period. Stratos Wealth Partners LTD.'s holdings in GE Vernova were worth $5,917,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GEV. Brighton Jones LLC boosted its stake in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after acquiring an additional 753 shares during the period. GAMMA Investing LLC boosted its stake in shares of GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock worth $2,142,000 after acquiring an additional 542 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of GE Vernova by 79.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock worth $67,622,000 after acquiring an additional 98,034 shares during the period. Sowell Financial Services LLC bought a new position in shares of GE Vernova in the first quarter worth about $681,000. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of GE Vernova by 12.4% in the first quarter. Cornerstone Wealth Management LLC now owns 2,523 shares of the company's stock worth $770,000 after acquiring an additional 279 shares during the period.

GE Vernova Price Performance

Shares of GEV stock opened at $599.62 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock's 50 day simple moving average is $616.42 and its two-hundred day simple moving average is $519.27. The company has a market cap of $163.23 billion, a PE ratio of 144.49, a price-to-earnings-growth ratio of 4.36 and a beta of 1.72.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (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 business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the business posted $4.65 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio is presently 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

GEV has been the subject of a number of research reports. Weiss Ratings reissued a "hold (c)" rating on shares of GE Vernova in a research note on Wednesday, October 8th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. TD Cowen increased their price target on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Bank of America increased their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Citigroup increased 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. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and an average target price of $592.61.

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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