Financial Insights Inc. Invests $451,000 in GE Vernova Inc. $GEV

Financial Insights Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, HoldingsChannel reports. The fund bought 853 shares of the company’s stock, valued at approximately $451,000.

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

Analysts Set New Price Targets

GEV has been the topic of a number of analyst reports. Glj Research initiated coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a “buy” rating on the stock. UBS Group initiated coverage on shares of GE Vernova in a research report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Bank of America lifted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the company a “sector perform” rating in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $595.07 on Friday. The firm has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a PEG ratio of 4.34 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. The company’s fifty day moving average is $623.21 and its two-hundred day moving average is $500.03.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid 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 of this dividend is Monday, October 20th. GE Vernova’s payout ratio is 24.10%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by company insiders.

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.