Vicus Capital Makes New Investment in GE Vernova Inc. $GEV

Key Points

• Vicus Capital recently acquired a new stake in GE Vernova Inc., purchasing 441 shares valued at approximately $233,000 during the 2nd quarter.
• Several analysts have raised their price targets for GE Vernova, with Barclays setting a new objective of $706.00 while maintaining an "overweight" rating.
• GE Vernova announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend of $1.00 and a dividend yield of 0.2%.

Vicus Capital 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. The firm bought 441 shares of the company's stock, valued at approximately $233,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EQ Wealth Advisors LLC bought a new position in GE Vernova in the first quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after purchasing an additional 53 shares during the period. 1248 Management LLC bought a new position in shares of GE Vernova in the 1st quarter valued at about $31,000. Finally, Saudi Central Bank acquired a new stake in shares of GE Vernova during the 1st quarter worth approximately $33,000.

Analysts Set New Price Targets

GEV has been the topic of several analyst reports. Barclays increased their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. UBS Group assumed coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a "buy" rating and a $614.00 target price for the company. Citigroup increased their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Glj Research assumed coverage on GE Vernova in a research report on Monday, June 23rd. They issued a "buy" rating on the stock. Finally, Wells Fargo & Company lifted their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $598.50.

Insider Activity

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 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 directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

GE Vernova Stock Up 0.1%

Shares of GEV stock opened at $606.80 on Friday. GE Vernova Inc. has a 12-month low of $250.89 and a 12-month high of $677.29. The firm has a fifty day moving average of $624.20 and a 200-day moving average of $496.99. The firm has a market capitalization of $165.18 billion, a price-to-earnings 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 EPS for the quarter, topping 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 business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter last year, the business posted $4.65 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current 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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's payout ratio is 24.10%.

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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