Synergy Asset Management LLC Invests $249,000 in GE Vernova Inc. $GEV

Key Points

• Synergy Asset Management LLC invested approximately $249,000 in **GE Vernova Inc.** during the second quarter, purchasing 471 shares of the company's stock.
• Analysts have shown confidence in GE Vernova, with Wells Fargo raising its price target from $474.00 to $697.00 while assigning an "overweight" rating to the stock.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, with a payout ratio of 24.10% and a dividend yield of 0.2%.

Synergy Asset Management LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 471 shares of the company's stock, valued at approximately $249,000.

Several other hedge funds also recently added to or reduced their stakes in GEV. Highline Wealth Partners LLC lifted its position in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after purchasing an additional 18 shares during the last quarter. Atlas Brown Inc. raised its stake in GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after buying an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. raised its stake in GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after buying an additional 20 shares in the last quarter. West Branch Capital LLC lifted its holdings in GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company's stock worth $52,000 after buying an additional 20 shares during the last quarter. Finally, Grove Bank & Trust grew its position in shares of GE Vernova by 16.0% in the 2nd quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after acquiring an additional 23 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GEV shares. Wells Fargo & Company upped their price target on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. BMO Capital Markets raised their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, HSBC boosted their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research report on Friday, September 5th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and an average target price of $598.50.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by insiders.

GE Vernova Price Performance

GEV opened at $595.07 on Friday. The business has a 50 day moving average price of $623.21 and a two-hundred day moving average price of $498.89. The company has a market capitalization of $161.99 billion, a price-to-earnings ratio of 143.39, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping 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 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 previous year, the business earned $4.65 EPS. 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 analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid 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 payout ratio is currently 24.10%.

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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