Continuum Wealth Advisors LLC Acquires New Stake in GE Vernova Inc. $GEV

Continuum Wealth Advisors LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 683 shares of the company’s stock, valued at approximately $361,000.

A number of other hedge funds have also made changes to their positions in the stock. Sachetta LLC increased its stake in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after acquiring an additional 16 shares during the period. AMG National Trust Bank increased its stake in shares of GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares during the period. Highline Wealth Partners LLC increased its stake in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the period. Atlas Brown Inc. increased its stake in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after acquiring an additional 19 shares during the period. Finally, Princeton Global Asset Management LLC increased its stake in shares of GE Vernova by 14.4% during the second quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock valued at $80,000 after acquiring an additional 19 shares during the period.

GE Vernova Stock Performance

NYSE GEV opened at $584.82 on Monday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock has a market cap of $158.67 billion, a price-to-earnings ratio of 95.25, a PEG ratio of 4.35 and a beta of 1.69. The firm’s 50 day moving average price is $608.29 and its two-hundred day moving average price is $542.94.

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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the firm earned ($0.35) earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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 issued 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 payout ratio is currently 16.29%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. UBS Group set a $710.00 price target on shares of GE Vernova in a research report on Thursday, October 23rd. Bank of America lifted their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Finally, Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

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.