GE Vernova Inc. $GEV Shares Bought by Belpointe Asset Management LLC

Belpointe Asset Management LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 74.3% in the second quarter, HoldingsChannel.com reports. The fund owned 2,027 shares of the company’s stock after purchasing an additional 864 shares during the quarter. Belpointe Asset Management LLC’s holdings in GE Vernova were worth $1,073,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Highline Wealth Partners LLC raised its holdings in shares of GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after acquiring an additional 18 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of GE Vernova in the second quarter worth $37,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova in the first quarter worth $27,000. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova in the first quarter worth $27,000. Finally, West Branch Capital LLC raised 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 acquiring an additional 20 shares during the last quarter.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

GE Vernova Trading Up 0.5%

GEV stock opened at $606.24 on Wednesday. The stock has a 50-day moving average price of $621.76 and a two-hundred day moving average price of $503.77. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The company has a market cap of $165.03 billion, a PE ratio of 146.08, a price-to-earnings-growth ratio of 4.39 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted 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 firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS 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. Stockholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GEV. Robert W. Baird boosted their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Barclays upped their target price on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. TD Cowen upped their target price on GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, July 25th. 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 note on Monday, July 28th. Finally, Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $598.50.

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.