Verus Financial Partners Inc. Purchases New Shares in GE Vernova Inc. $GEV

Key Points

• Verus Financial Partners Inc. purchased 446 shares of GE Vernova Inc., valued at approximately $239,000, in the second quarter.
• Research analysts have given GE Vernova a consensus rating of "Moderate Buy" with a price target of $598.50, reflecting increasing investor interest.
• The company has also announced a quarterly dividend of $0.25 per share, with an ex-dividend date of October 20th.

Verus Financial Partners Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 446 shares of the company's stock, valued at approximately $239,000.

A number of other large investors have also added to or reduced their stakes in GEV. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the 1st quarter valued at $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 53 shares in the last quarter. 1248 Management LLC acquired a new position in GE Vernova during the 1st quarter worth $31,000. Finally, Saudi Central Bank acquired a new position in GE Vernova during the 1st quarter worth $33,000.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Glj Research assumed coverage on shares of GE Vernova in a report on Monday, June 23rd. They set a "buy" rating for the company. Citigroup raised their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a report on Monday, July 28th. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Wolfe Research lowered shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Four research 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $598.50.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated 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. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Performance

NYSE GEV opened at $606.80 on Friday. GE Vernova Inc. has a one year low of $250.89 and a one year high of $677.29. The company has a 50-day simple moving average of $624.20 and a 200-day simple moving average of $496.99. The firm has a market capitalization of $165.18 billion, a PE ratio of 146.22, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

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

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 dividend payout ratio (DPR) is currently 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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