Massachusetts Wealth Management Buys 54 Shares of GE Vernova Inc. $GEV

Massachusetts Wealth Management boosted its stake in GE Vernova Inc. (NYSE:GEV) by 0.9% during the second quarter, Holdings Channel.com reports. The firm owned 6,053 shares of the company’s stock after buying an additional 54 shares during the period. GE Vernova accounts for about 1.8% of Massachusetts Wealth Management’s portfolio, making the stock its 13th largest position. Massachusetts Wealth Management’s holdings in GE Vernova were worth $3,203,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the first quarter worth approximately $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova in the first quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC grew 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 worth $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC bought a new position in shares of GE Vernova in the first quarter worth approximately $31,000. Finally, Saudi Central Bank bought a new position in shares of GE Vernova in the first quarter worth approximately $33,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GEV. Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. JPMorgan Chase & Co. raised their price target on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Morgan Stanley raised their price target on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company raised their price target on GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’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 transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Trading Up 3.2%

Shares of GE Vernova stock opened at $625.47 on Thursday. The firm has a market capitalization of $170.27 billion, a P/E ratio of 150.72, a P/E/G ratio of 4.41 and a beta of 1.72. The business has a fifty day simple moving average of $621.18 and a two-hundred day simple moving average of $504.60. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current 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 of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

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.