Wedbush Securities Inc. Acquires 942 Shares of GE Vernova Inc. $GEV

Wedbush Securities Inc. grew its holdings in GE Vernova Inc. (NYSE:GEV) by 19.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,783 shares of the company’s stock after purchasing an additional 942 shares during the period. Wedbush Securities Inc.’s holdings in GE Vernova were worth $3,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GEV. IMA Advisory Services Inc. bought a new stake in GE Vernova during the 1st quarter valued at about $27,000. WFA Asset Management Corp purchased a new position in shares of GE Vernova during the second quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring 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 approximately $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the first quarter worth approximately $33,000.

Insider Activity at GE Vernova

In other 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 value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GEV shares. Glj Research lifted their target price on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Bank of America raised their target price on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $654.00 price objective on shares of GE Vernova in a research note on Monday, October 27th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Stock Performance

GEV stock opened at $575.61 on Friday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The firm has a market cap of $156.18 billion, a price-to-earnings ratio of 93.75, a PEG ratio of 4.09 and a beta of 1.68. The firm has a 50-day simple moving average of $602.58 and a two-hundred day simple moving average of $548.30.

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

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 16.29%.

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.