GE Vernova Inc. $GEV Shares Bought by Avalon Capital Management

Avalon Capital Management grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 12.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,177 shares of the company’s stock after buying an additional 237 shares during the period. Avalon Capital Management’s holdings in GE Vernova were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in GEV. Lakeridge Wealth Management LLC purchased a new stake in GE Vernova during the second quarter worth approximately $288,000. Nwam LLC lifted its position in shares of GE Vernova by 61.7% during the 2nd quarter. Nwam LLC now owns 10,894 shares of the company’s stock worth $5,765,000 after buying an additional 4,157 shares during the last quarter. Ibex Wealth Advisors purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $2,493,000. Vise Technologies Inc. acquired a new position in shares of GE Vernova in the 2nd quarter valued at $3,355,000. Finally, First Dallas Securities Inc. purchased a new position in shares of GE Vernova in the 2nd quarter valued at $249,000.

Insider Buying and Selling

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were 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 trade represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Up 0.9%

Shares of GEV stock opened at $580.21 on Tuesday. The stock’s 50-day moving average price is $601.89 and its 200 day moving average price is $552.90. The stock has a market capitalization of $157.42 billion, a PE ratio of 94.50, a price-to-earnings-growth ratio of 4.28 and a beta of 1.69. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) 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 analyst estimates of $9.15 billion. During the same period in the previous year, the firm posted ($0.35) EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given 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 yield of 0.2%. GE Vernova’s dividend payout ratio is presently 16.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. HSBC boosted their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. UBS Group set a $710.00 price target on GE Vernova in a research note on Thursday, October 23rd. Finally, BMO Capital Markets boosted their price objective on GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.