GE Vernova Inc. $GEV Position Lifted by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 18.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,554 shares of the company’s stock after purchasing an additional 4,650 shares during the period. GE Vernova accounts for approximately 2.9% of Sierra Summit Advisors LLC’s holdings, making the stock its 7th largest position. Sierra Summit Advisors LLC’s holdings in GE Vernova were worth $16,168,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. WFA Asset Management Corp purchased a new stake in GE Vernova in the second quarter worth about $29,000. 1248 Management LLC purchased a new stake in GE Vernova in the 1st quarter worth approximately $31,000. Saudi Central Bank bought a new stake in GE Vernova during the 1st quarter worth approximately $33,000. Ransom Advisory Ltd purchased a new position in GE Vernova during the first quarter valued at approximately $33,000. Finally, Highline Wealth Partners LLC lifted its holdings in 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 purchasing an additional 18 shares in the last quarter.

GE Vernova Price Performance

Shares of GEV opened at $555.98 on Friday. The stock has a market capitalization of $150.85 billion, a price-to-earnings ratio of 90.55, a price-to-earnings-growth ratio of 4.13 and a beta of 1.68. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The business’s 50 day simple moving average is $595.52 and its 200-day simple moving average is $563.46.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were issued a $0.25 dividend. The ex-dividend date was 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 16.29%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Morgan Stanley raised their price target on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. TD Cowen lowered their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Barclays increased their target price on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target 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.