Sutton Place Investors LLC Purchases New Holdings in GE Vernova Inc. $GEV

Key Points

• Sutton Place Investors LLC acquired a new stake in GE Vernova Inc. during the second quarter, purchasing 515 shares valued at approximately $273,000.
• Several analysts upgraded their price targets for GE Vernova, with Wells Fargo raising it from $474 to $697 and JPMorgan from $620 to $715, indicating strong market confidence.
• GE Vernova announced a quarterly dividend of $0.25, payable on November 17th, with a dividend yield of 0.2%.

Sutton Place Investors LLC purchased 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 firm purchased 515 shares of the company's stock, valued at approximately $273,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GE Vernova in the 1st quarter valued at approximately $912,000. Pines Wealth Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at approximately $408,000. Resona Asset Management Co. Ltd. boosted its holdings in shares of GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock valued at $26,229,000 after buying an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of GE Vernova in the 1st quarter valued at approximately $458,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of GE Vernova by 201.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock valued at $373,000 after buying an additional 817 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have issued reports on GEV shares. Weiss Ratings restated a "hold (c)" rating on shares of GE Vernova in a research note on Saturday, September 27th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Wells Fargo & Company upped their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, TD Cowen upped their price objective on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Four 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, GE Vernova presently has an average rating of "Moderate Buy" and a consensus target price of $598.50.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company's stock.

GE Vernova Trading Down 1.8%

GE Vernova stock opened at $595.07 on Friday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The stock's 50 day moving average is $623.21 and its 200-day moving average is $500.03. The company has a market capitalization of $161.99 billion, a price-to-earnings ratio of 143.39, a PEG ratio of 4.34 and a beta of 1.72.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

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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