GE Vernova Inc. $GEV Shares Acquired by Hager Investment Management Services LLC

Hager Investment Management Services LLC grew its position in GE Vernova Inc. (NYSE:GEV) by 38.6% during the second quarter, Holdings Channel reports. The firm owned 1,306 shares of the company’s stock after acquiring an additional 364 shares during the period. Hager Investment Management Services LLC’s holdings in GE Vernova were worth $691,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of GEV. Brighton Jones LLC increased its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of GE Vernova by 1.6% in the first quarter. First Citizens Bank & Trust Co. now owns 3,007 shares of the company’s stock valued at $918,000 after purchasing an additional 48 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of GE Vernova by 13.0% in the first quarter. Farther Finance Advisors LLC now owns 4,113 shares of the company’s stock valued at $1,298,000 after purchasing an additional 473 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in shares of GE Vernova by 2.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,298 shares of the company’s stock valued at $1,007,000 after purchasing an additional 83 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock valued at $2,142,000 after purchasing an additional 542 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. TD Cowen increased their price objective on GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a report on Friday, July 25th. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Citigroup raised their target price on GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Wells Fargo & Company raised their target price on GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Glj Research began coverage on GE Vernova in a report on Monday, June 23rd. They set a “buy” rating on the stock. Four investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $598.50.

GE Vernova Trading Up 3.2%

Shares of GEV stock opened at $625.47 on Thursday. The company has a market capitalization of $170.27 billion, a P/E ratio of 150.72, a P/E/G ratio of 4.41 and a beta of 1.72. The business’s 50 day moving average is $621.18 and its two-hundred day moving average is $504.60. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

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

GE Vernova Dividend Announcement

The firm 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 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 yield of 0.2%. GE Vernova’s dividend payout ratio is currently 24.10%.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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.