Successful Portfolios LLC Makes New $264,000 Investment in GE Vernova Inc. $GEV

Successful Portfolios LLC bought a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 498 shares of the company's stock, valued at approximately $264,000.

A number of other large investors have also bought and sold shares of GEV. Caitong International Asset Management Co. Ltd purchased a new position in shares of GE Vernova in the first quarter valued at $912,000. Pines Wealth Management LLC purchased a new position in shares of GE Vernova in the second quarter valued at $408,000. Resona Asset Management Co. Ltd. grew its position in shares of GE Vernova by 8.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after purchasing an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova in the first quarter valued at $458,000. Finally, Golden State Wealth Management LLC grew its position in shares of GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after purchasing an additional 817 shares in the last quarter.

GE Vernova Stock Performance

NYSE:GEV opened at $595.07 on Friday. The firm has a market capitalization of $161.99 billion, a price-to-earnings ratio of 143.39, a P/E/G ratio of 4.42 and a beta of 1.72. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The stock has a fifty day moving average of $623.21 and a 200 day moving average of $498.89.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. 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 payout ratio is 24.10%.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was 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 $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GEV. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. BMO Capital Markets lifted their price target on GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Bank of America lifted their price target on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Jefferies Financial Group lifted their price target on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research report on Friday, September 12th. Finally, JPMorgan Chase & Co. lifted their price target on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $598.50.

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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