Wealth Alliance Advisory Group LLC Makes New $265,000 Investment in GE Vernova Inc. $GEV

Key Points

• Wealth Alliance Advisory Group LLC has acquired a new stake in GE Vernova Inc., purchasing 500 shares valued at approximately $265,000 during the 2nd quarter.
• GE Vernova reported $1.86 EPS for the quarter, exceeding analysts' estimates and demonstrating a year-over-year revenue increase of 11.1% to $9.11 billion.
• The company has recently announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.2% and a payout ratio of 24.10%.

Wealth Alliance Advisory Group LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 500 shares of the company's stock, valued at approximately $265,000.

Several other institutional investors also recently added to or reduced their stakes in GEV. GAMMA Investing LLC grew its position in GE Vernova by 32,984.2% during the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after buying an additional 2,135,066 shares during the period. AQR Capital Management LLC grew its position in GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after buying an additional 892,549 shares during the period. Amundi grew its position in GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after buying an additional 868,927 shares during the period. TD Asset Management Inc boosted its position in GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company's stock worth $282,946,000 after purchasing an additional 799,388 shares during the period. Finally, Nuveen LLC bought a new position in GE Vernova during the first quarter worth about $223,556,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on GEV shares. Barclays increased their target price on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Robert W. Baird increased their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wells Fargo & Company increased their target price on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Jefferies Financial Group increased their target price on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research report on Friday. Finally, UBS Group initiated 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. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $580.04.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm'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 of the company's stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

GE Vernova Trading Down 1.3%

Shares of GE Vernova stock traded down $8.16 on Friday, reaching $625.99. The stock had a trading volume of 2,639,095 shares, compared to its average volume of 2,781,331. GE Vernova Inc. has a 1 year low of $219.01 and a 1 year high of $677.29. The company has a market cap of $170.41 billion, a P/E ratio of 150.84, a price-to-earnings-growth ratio of 4.32 and a beta of 1.88. The business's 50 day moving average is $608.65 and its two-hundred day moving average is $469.09.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The business 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% on a year-over-year basis. During the same period last year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. 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.