Armbruster Capital Management Inc. Invests $291,000 in GE Vernova Inc. $GEV

Armbruster Capital Management Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 549 shares of the company’s stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after acquiring an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GE Vernova by 21.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after buying an additional 367,150 shares during the last quarter. Wellington Management Group LLP increased its position in GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after buying an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after buying an additional 622,730 shares during the last quarter.

GE Vernova Price Performance

GEV opened at $606.24 on Wednesday. The business has a 50 day simple moving average of $621.76 and a two-hundred day simple moving average of $503.77. The firm has a market capitalization of $165.03 billion, a price-to-earnings ratio of 146.08, a PEG ratio of 4.39 and a beta of 1.72. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 EPS 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. Investors of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 24.10%.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’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 sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Susquehanna raised their target price on GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. TD Cowen raised their target price on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. raised their target price on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Four 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 stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $598.50.

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.