Ellevest Inc. Has $897,000 Stock Position in GE Vernova Inc. $GEV

Ellevest Inc. boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 39.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,695 shares of the company’s stock after buying an additional 483 shares during the period. Ellevest Inc.’s holdings in GE Vernova were worth $897,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of GEV. Brighton Jones LLC raised its holdings in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares during the period. Concurrent Investment Advisors LLC raised its holdings in GE Vernova by 91.5% during the 1st quarter. Concurrent Investment Advisors LLC now owns 6,009 shares of the company’s stock worth $1,834,000 after buying an additional 2,871 shares during the period. Envestnet Asset Management Inc. raised its holdings in GE Vernova by 2.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 421,454 shares of the company’s stock worth $128,662,000 after buying an additional 10,951 shares during the period. TD Private Client Wealth LLC raised its holdings in GE Vernova by 153.3% during the 1st quarter. TD Private Client Wealth LLC now owns 9,545 shares of the company’s stock worth $2,914,000 after buying an additional 5,776 shares during the period. Finally, Callan Capital LLC raised its holdings in GE Vernova by 8.6% during the 1st quarter. Callan Capital LLC now owns 850 shares of the company’s stock worth $259,000 after buying an additional 67 shares during the period.

GE Vernova Trading Down 5.8%

NYSE:GEV opened at $547.41 on Wednesday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a fifty day simple moving average of $606.31 and a 200 day simple moving average of $546.36. The stock has a market capitalization of $148.52 billion, a PE ratio of 89.16, a P/E/G ratio of 4.32 and a beta of 1.68.

GE Vernova (NYSE:GEV) last released its earnings results 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 firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the business posted ($0.35) earnings per share. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced 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 of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GEV. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Royal Bank Of Canada lifted their price objective on shares of GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Glj Research lifted their price objective on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Finally, Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $607.81.

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.