Nwam LLC Purchases 4,157 Shares of GE Vernova Inc. $GEV

Nwam LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 61.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,894 shares of the company’s stock after purchasing an additional 4,157 shares during the quarter. Nwam LLC’s holdings in GE Vernova were worth $5,765,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of GE Vernova during the first quarter valued at approximately $912,000. Pines Wealth Management LLC bought a new stake in GE Vernova in the second quarter valued at $408,000. Resona Asset Management Co. Ltd. increased its position in GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC bought a new position in GE Vernova in the 2nd quarter worth $253,000. Finally, Lockheed Martin Investment Management Co. bought a new position in GE Vernova in the 1st quarter worth $458,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GEV. BMO Capital Markets lifted their target price on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Morgan Stanley lifted their price objective on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Susquehanna increased their target price on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Barclays raised their target price on GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Four investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.

GE Vernova Stock Up 0.9%

Shares of NYSE GEV opened at $580.21 on Tuesday. The firm has a market cap of $157.42 billion, a P/E ratio of 94.50, a PEG ratio of 4.28 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 company has a 50 day moving average of $601.89 and a 200 day moving average of $552.90.

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

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 yield of 0.2%. GE Vernova’s dividend payout ratio is currently 16.29%.

About GE Vernova

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.