Wealth Enhancement Advisory Services LLC Buys 4,969 Shares of GE Vernova Inc. $GEV

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in GE Vernova Inc. by 2.2% during the 2nd quarter, now holding approximately 0.08% of the company, valued at $117,097,000.
• Multiple analysts have upgraded their price targets for GE Vernova, with Morgan Stanley setting a new target of $675.00 and JPMorgan Chase boosting it to $715.00, reflecting a bullish outlook on the stock.
• GE Vernova reported a quarterly earnings beat with an EPS of $1.86, surpassing expectations and reflecting an 11.1% year-over-year revenue growth.

Wealth Enhancement Advisory Services LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,476 shares of the company's stock after buying an additional 4,969 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.08% of GE Vernova worth $117,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova in the first quarter valued at $27,000. Orion Capital Management LLC bought a new position in GE Vernova in the fourth quarter worth $30,000. Mowery & Schoenfeld Wealth Management LLC lifted its position in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares during the period. Finally, 1248 Management LLC acquired a new stake in GE Vernova during the first quarter worth $31,000.

GE Vernova Price Performance

Shares of NYSE:GEV traded down $3.34 during trading on Thursday, reaching $611.45. The stock had a trading volume of 2,244,479 shares, compared to its average volume of 2,705,400. The stock has a market capitalization of $166.45 billion, a PE ratio of 147.34, a P/E/G ratio of 4.48 and a beta of 1.87. GE Vernova Inc. has a 52 week low of $238.11 and a 52 week high of $677.29. The business's 50-day moving average price is $615.40 and its 200 day moving average price is $475.18.

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, topping 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 for the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the company earned $4.65 EPS. GE Vernova's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GEV. 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 research note on Thursday, July 24th. Morgan Stanley increased their price target on shares of GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. TD Cowen upped their price objective on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group increased their target price on GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Four analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $592.35.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by corporate insiders.

GE Vernova 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.