West Michigan Advisors LLC Grows Stock Position in GE Vernova Inc. $GEV

Key Points

• West Michigan Advisors LLC increased its stake in GE Vernova Inc. by 95.6% in Q2, now holding 1,592 shares worth $842,000.
• Equity analysts have mixed views on GE Vernova, with four analysts rating it as a Strong Buy and others giving it ratings ranging from Buy to Sell.
• GE Vernova announced a quarterly dividend of $0.25 per share, with an annualized yield of 0.2%, to be paid on November 17th.

West Michigan Advisors LLC lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 95.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,592 shares of the company's stock after purchasing an additional 778 shares during the period. West Michigan Advisors LLC's holdings in GE Vernova were worth $842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in GE Vernova during the 1st quarter worth $27,000. WFA Asset Management Corp purchased a new stake in GE Vernova in the 2nd quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC grew 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 worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC acquired a new position in GE Vernova in the first quarter valued at $31,000. Finally, Saudi Central Bank purchased a new stake in shares of GE Vernova in the first quarter valued at about $33,000.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Melius upgraded GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price on the stock in a research report on Monday, September 15th. Cowen reiterated a "buy" rating on shares of GE Vernova in a research report on Thursday. Bank of America increased their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Guggenheim lowered shares of GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. Finally, BMO Capital Markets lifted their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an "outperform" rating in a research report on Thursday. Four 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 company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $606.85.

Insider Buying and Selling at GE Vernova

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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company's stock.

GE Vernova Stock Up 2.2%

Shares of NYSE:GEV opened at $607.98 on Friday. The firm has a market capitalization of $165.50 billion, a P/E ratio of 99.32, a price-to-earnings-growth ratio of 4.17 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm has a fifty day moving average of $612.04 and a two-hundred day moving average of $527.31.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the business posted ($0.35) EPS. GE Vernova's revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect 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. Stockholders of record on Monday, October 20th will be paid 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 dividend 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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