GE Vernova Inc. $GEV Stake Increased by Key Financial Inc

Key Financial Inc grew its holdings in GE Vernova Inc. (NYSE:GEV) by 47.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 974 shares of the company’s stock after purchasing an additional 314 shares during the period. Key Financial Inc’s holdings in GE Vernova were worth $515,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the first quarter valued at $27,000. WFA Asset Management Corp purchased a new stake in shares of GE Vernova in the second quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC purchased a new stake in shares of GE Vernova in the first quarter valued at $31,000. Finally, Saudi Central Bank purchased a new stake in shares of GE Vernova in the first quarter valued at $33,000.

Analyst Ratings Changes

GEV has been the subject of a number of research analyst reports. HSBC increased 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. Cowen reiterated a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Royal Bank Of Canada increased their price objective on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Finally, Citigroup cut their price objective on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Four 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 transaction, the chief financial officer directly 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 SEC, which is available through the SEC website. 0.15% of the stock is owned by insiders.

GE Vernova Price Performance

GE Vernova stock opened at $583.13 on Tuesday. The company has a market capitalization of $158.22 billion, a price-to-earnings ratio of 94.97, a PEG ratio of 4.35 and a beta of 1.69. 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 price is $607.92 and its two-hundred day moving average price is $544.77.

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

GE Vernova Announces Dividend

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio is presently 16.29%.

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.