Successful Portfolios LLC Makes New Investment in GE Vernova Inc. $GEV

Successful Portfolios LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 498 shares of the company’s stock, valued at approximately $264,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its stake in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after purchasing an additional 18 shares during the last quarter. Atlas Brown Inc. increased its holdings in shares of GE Vernova by 0.8% in the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock worth $1,321,000 after buying an additional 19 shares during the period. Physician Wealth Advisors Inc. increased its holdings in shares of GE Vernova by 9.0% in the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock worth $128,000 after buying an additional 20 shares during the period. West Branch Capital LLC increased its holdings in shares of GE Vernova by 25.6% in the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock worth $52,000 after buying an additional 20 shares during the period. Finally, Grove Bank & Trust increased its holdings in shares of GE Vernova by 16.0% in the second quarter. Grove Bank & Trust now owns 167 shares of the company’s stock worth $88,000 after buying an additional 23 shares during the period.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This 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 the SEC website. Company insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $595.07 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The company has a market cap of $161.99 billion, a PE ratio of 143.39, a P/E/G ratio of 4.42 and a beta of 1.72. The stock’s 50-day moving average is $623.21 and its 200 day moving average is $498.89.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 EPS. GE Vernova’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued 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 dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 24.10%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Mizuho downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective on the stock. in a report on Monday, July 28th. The Goldman Sachs Group lifted their price objective on GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the stock a “sector perform” rating in a report on Wednesday. Finally, Wolfe Research downgraded GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $598.50.

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.