GE Vernova Inc. $GEV Shares Acquired by Rockbridge Investment Management LCC

Rockbridge Investment Management LCC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 210.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,313 shares of the company’s stock after purchasing an additional 1,567 shares during the quarter. Rockbridge Investment Management LCC’s holdings in GE Vernova were worth $1,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Purus Wealth Management LLC lifted its stake in GE Vernova by 170.5% during the 2nd quarter. Purus Wealth Management LLC now owns 3,192 shares of the company’s stock valued at $1,689,000 after acquiring an additional 2,012 shares during the period. Portside Wealth Group LLC purchased a new stake in GE Vernova in the second quarter valued at $279,000. Inspire Advisors LLC purchased a new position in shares of GE Vernova during the 2nd quarter valued at about $225,000. United Advisor Group LLC purchased a new stake in shares of GE Vernova in the second quarter worth about $206,000. Finally, First American Trust FSB acquired a new stake in GE Vernova during the second quarter worth about $216,000.

Insider Buying and Selling

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GEV. JPMorgan Chase & Co. lifted their target price 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. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a research note on Monday, September 15th. Finally, HSBC lifted their price target on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Four research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Stock Down 0.3%

Shares of NYSE GEV opened at $576.48 on Tuesday. The firm has a market cap of $156.41 billion, a price-to-earnings ratio of 93.89, a price-to-earnings-growth ratio of 4.30 and a beta of 1.69. The company’s 50-day simple moving average is $600.40 and its 200-day simple moving average is $559.92. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly 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 company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the business posted ($0.35) earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

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.