Gemmer Asset Management LLC Takes $247,000 Position in GE Vernova Inc. $GEV

Gemmer Asset Management LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel.com reports. The firm acquired 466 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova in the 1st quarter valued at about $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova in the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares during the period. 1248 Management LLC acquired a new position in shares of GE Vernova in the 1st quarter valued at about $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova in the 1st quarter valued at about $33,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GEV shares. Barclays boosted their price objective on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Susquehanna boosted their target price on GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Mizuho lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price for the company. in a research report on Monday, July 28th. HSBC boosted their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. boosted their target price on GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $598.50.

GE Vernova Stock Performance

Shares of GEV opened at $595.07 on Friday. The stock has a 50 day moving average price of $623.21 and a two-hundred day moving average price of $500.03. The firm has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a P/E/G ratio of 4.34 and a beta of 1.72. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The firm 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 period in the previous year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is currently 24.10%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’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 completion of the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Company 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.