Ashton Thomas Private Wealth LLC Trims Holdings in GE Vernova Inc. $GEV

Ashton Thomas Private Wealth LLC cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 21.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 935 shares of the company’s stock after selling 255 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in GE Vernova were worth $495,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GEV. Brighton Jones LLC boosted its position in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in GE Vernova by 2.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,196 shares of the company’s stock valued at $4,165,000 after acquiring an additional 354 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after purchasing an additional 817 shares during the period. Mather Group LLC. boosted its holdings in shares of GE Vernova by 18.6% during the first quarter. Mather Group LLC. now owns 2,671 shares of the company’s stock worth $815,000 after purchasing an additional 418 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its holdings in shares of GE Vernova by 5.7% during the first quarter. DAVENPORT & Co LLC now owns 6,678 shares of the company’s stock worth $2,039,000 after purchasing an additional 361 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the subject of several analyst reports. HSBC upped their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. UBS Group set a $710.00 price objective on shares of GE Vernova in a research note on Thursday, October 23rd. Cowen reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Melius raised shares of 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. Finally, BMO Capital Markets boosted their target price on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

NYSE GEV opened at $574.80 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a market capitalization of $155.96 billion, a P/E ratio of 93.62, a P/E/G ratio of 4.28 and a beta of 1.72. The business’s 50-day simple moving average is $608.71 and its 200-day simple moving average is $538.14.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a dividend of $0.25 per share. 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 payout ratio is presently 16.29%.

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.