Exchange Capital Management Inc. Buys Shares of 633 GE Vernova Inc. $GEV

Exchange Capital Management Inc. purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 633 shares of the company’s stock, valued at approximately $335,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Abacus Planning Group Inc. bought a new stake in GE Vernova in the 2nd quarter worth about $356,000. Hilltop National Bank bought a new stake in shares of GE Vernova in the second quarter worth approximately $155,000. Hardman Johnston Global Advisors LLC purchased a new position in shares of GE Vernova during the second quarter valued at approximately $270,000. Cornell Pochily Investment Advisors Inc. bought a new position in GE Vernova during the second quarter valued at approximately $207,000. Finally, J. Safra Sarasin Holding AG boosted its holdings in GE Vernova by 37.9% in the second quarter. J. Safra Sarasin Holding AG now owns 21,846 shares of the company’s stock worth $11,560,000 after purchasing an additional 6,001 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GEV shares. TD Cowen boosted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Barclays upped their price objective on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. UBS Group began coverage on GE Vernova in a research report on Monday, July 7th. They issued a “buy” rating and a $614.00 target price on the stock. Mizuho lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price target for the company. in a research report on Monday, July 28th. Finally, BMO Capital Markets increased their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average target price of $598.50.

GE Vernova Stock Down 1.8%

GEV stock opened at $595.07 on Friday. The business’s 50-day moving average price is $623.21 and its 200-day moving average price is $498.89. The stock has a market cap of $161.99 billion, a P/E ratio of 143.39, a PEG ratio of 4.42 and a beta of 1.72. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period in the prior year, the firm posted $4.65 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, 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 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 dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction 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 owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

GE Vernova 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.