Mission Wealth Management LP Has $1.31 Million Holdings in GE Vernova Inc. $GEV

Mission Wealth Management LP lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.7% during the second quarter, HoldingsChannel reports. The firm owned 2,483 shares of the company’s stock after acquiring an additional 88 shares during the quarter. Mission Wealth Management LP’s holdings in GE Vernova were worth $1,314,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after acquiring an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after acquiring an additional 367,150 shares during the period. Wellington Management Group LLP raised its holdings in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after acquiring an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after acquiring an additional 622,730 shares during the period.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley lifted their price target on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research note on Thursday. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Susquehanna lifted their target price on GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research report on Thursday, October 23rd. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four equities 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Stock Down 0.3%

NYSE:GEV opened at $583.13 on Tuesday. The firm has a market capitalization of $158.22 billion, a price-to-earnings ratio of 94.97, a price-to-earnings-growth ratio of 4.35 and a beta of 1.69. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock’s 50 day moving average price is $607.92 and its two-hundred day moving average price is $544.77.

GE Vernova (NYSE:GEV) last issued its 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). The firm 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%.GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 16.29%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.

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.