Townsend & Associates Inc Invests $223,000 in GE Vernova Inc. $GEV

Key Points

• Townsend & Associates Inc has invested $223,000 in GE Vernova Inc. by acquiring 421 shares, marking significant institutional interest in the company's stock.
• Multiple brokerages have upgraded their price targets for GE Vernova, with TD Cowen setting a new target price at $685.00 and Melius Research at $740.00, indicating strong buy ratings.
• GE Vernova has recently declared a quarterly dividend of $0.25 per share, with an annualized yield of 0.2%, reflecting stable financial performance.

Townsend & Associates Inc bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 421 shares of the company's stock, valued at approximately $223,000.

A number of other institutional investors have also added to or reduced their stakes in GEV. Evermay Wealth Management LLC increased its position in GE Vernova by 19.0% during the 2nd quarter. Evermay Wealth Management LLC now owns 500 shares of the company's stock worth $265,000 after buying an additional 80 shares during the period. CMG Global Holdings LLC raised its holdings in shares of GE Vernova by 7.9% during the 2nd quarter. CMG Global Holdings LLC now owns 5,490 shares of the company's stock worth $2,905,000 after buying an additional 403 shares in the last quarter. Lyell Wealth Management LP bought a new stake in shares of GE Vernova during the 2nd quarter worth $278,000. Northeast Investment Management lifted its position in shares of GE Vernova by 560.5% during the 2nd quarter. Northeast Investment Management now owns 7,820 shares of the company's stock worth $4,138,000 after buying an additional 6,636 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its position in GE Vernova by 4.9% in the second quarter. Calamos Wealth Management LLC now owns 4,284 shares of the company's stock valued at $2,267,000 after acquiring an additional 199 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on GEV. TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a "buy" rating in a research report on Monday, September 15th. HSBC increased their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research note on Friday, September 5th. UBS Group assumed coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 target price on the stock. Finally, Morgan Stanley upped their price target on shares of GE Vernova from $675.00 to $690.00 and gave the stock an "overweight" rating in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $592.61.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $599.62 on Monday. The firm has a 50 day moving average price of $616.42 and a two-hundred day moving average price of $522.14. The stock has a market cap of $163.23 billion, a P/E ratio of 144.49, a price-to-earnings-growth ratio of 4.34 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.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results 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 net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. GE Vernova's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's payout ratio is 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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