GE Vernova Inc. $GEV Shares Acquired by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC boosted its position in GE Vernova Inc. (NYSE:GEV) by 25.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,262 shares of the company’s stock after buying an additional 256 shares during the period. Resonant Capital Advisors LLC’s holdings in GE Vernova were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. IMA Advisory Services Inc. purchased a new position in GE Vernova during the first quarter worth about $27,000. WFA Asset Management Corp purchased a new position in GE Vernova in the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC acquired a new stake in GE Vernova in the first quarter valued at $31,000. Finally, Saudi Central Bank purchased a new position in shares of GE Vernova in the first quarter valued at $33,000.

Insider Activity

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

GE Vernova Price Performance

GEV opened at $584.68 on Monday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The business has a 50-day moving average of $611.31 and a two-hundred day moving average of $532.47. The stock has a market capitalization of $158.64 billion, a price-to-earnings ratio of 95.23, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 return on equity of 17.07% and a net margin of 4.52%.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 previous year, the company 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. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Morgan Stanley boosted their price target on GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $607.59.

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.