Marks Group Wealth Management Inc Has $520,000 Position in GE Vernova Inc. $GEV

Marks Group Wealth Management Inc lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 983 shares of the company’s stock after selling 22 shares during the period. Marks Group Wealth Management Inc’s holdings in GE Vernova were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of GE Vernova by 1.8% during the first 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 last quarter. Goldman Sachs Group Inc. increased its position in 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 stake in GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Wellington Management Group LLP boosted its holdings in GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after purchasing an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GEV. Morgan Stanley increased their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research report on Saturday, September 27th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research report on Monday, September 15th. JPMorgan Chase & Co. upped their target price on GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group raised their target price on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of GEV stock opened at $602.55 on Tuesday. The stock’s fifty day simple moving average is $622.29 and its 200 day simple moving average is $503.05. 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 $164.03 billion, a price-to-earnings ratio of 145.19, a P/E/G ratio of 4.33 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period last year, the business earned $4.65 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

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.