Taylor Hoffman Capital Management LLC Buys Shares of 593 GE Vernova Inc. $GEV

Taylor Hoffman Capital Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 593 shares of the company's stock, valued at approximately $314,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova during the 1st quarter valued at $912,000. Resona Asset Management Co. Ltd. grew its position in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company's stock worth $26,229,000 after buying an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new position in GE Vernova during the first quarter worth about $458,000. Golden State Wealth Management LLC grew its position in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company's stock worth $373,000 after buying an additional 817 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in GE Vernova by 8.5% during the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company's stock worth $11,485,000 after buying an additional 2,942 shares in the last quarter.

GE Vernova Price Performance

GEV opened at $618.28 on Wednesday. The business has a 50 day simple moving average of $612.36 and a two-hundred day simple moving average of $472.16. The firm has a market capitalization of $168.31 billion, a price-to-earnings ratio of 148.98, a PEG ratio of 4.35 and a beta of 1.87. GE Vernova Inc. has a one year low of $233.51 and a one year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 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 during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the company posted $4.65 EPS. GE Vernova's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is currently 24.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GEV shares. Glj Research started coverage on GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating for the company. Mizuho cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 target price for the company. in a research report on Monday, July 28th. Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $592.35.

Insider Activity

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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company's stock.

About GE Vernova

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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