Sunbeam Capital Management LLC Buys Shares of 604 GE Vernova Inc. $GEV

Key Points

• Sunbeam Capital Management LLC acquired 604 shares of GE Vernova Inc., valued at approximately $320,000, according to a recent SEC filing.
• GE Vernova reported earnings of $1.86 per share, exceeding the consensus estimate of $1.63, with a growth in revenue by 11.1% year-over-year.
• The company declared a quarterly dividend of $0.25 to be paid on November 17th, representing a 0.2% yield based on its annualized dividend.

Sunbeam Capital Management LLC bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 604 shares of the company's stock, valued at approximately $320,000.

A number of other hedge funds also recently made changes to their positions in GEV. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova during the first quarter valued at approximately $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the first quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of GE Vernova by 115.2% during the first 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. 1248 Management LLC bought a new stake in shares of GE Vernova during the first quarter valued at approximately $31,000. Finally, Saudi Central Bank bought a new stake in shares of GE Vernova during the first quarter valued at approximately $33,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $602.55 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The stock has a market cap of $164.03 billion, a price-to-earnings ratio of 145.19, a PEG ratio of 4.33 and a beta of 1.72. The stock's 50 day moving average price is $622.29 and its 200 day moving average price is $503.05.

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

GE Vernova Announces Dividend

The firm 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. The ex-dividend date 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%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Glj Research assumed coverage on GE Vernova in a report on Monday, June 23rd. They set a "buy" rating on the stock. Morgan Stanley lifted their price target on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Melius raised GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price on the stock in a report on Monday, September 15th. Finally, Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $598.50.

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 that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company's stock.

GE Vernova 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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