Summit Place Financial Advisors LLC Decreases Stake in GE Vernova Inc. $GEV

Summit Place Financial Advisors LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,265 shares of the company’s stock after selling 25 shares during the quarter. GE Vernova makes up about 3.0% of Summit Place Financial Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Summit Place Financial Advisors LLC’s holdings in GE Vernova were worth $5,961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sachetta LLC increased its holdings in shares of GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after purchasing an additional 16 shares during the last quarter. Highline Wealth Partners LLC increased 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 purchasing an additional 18 shares during the last quarter. Atlas Brown Inc. increased its holdings in shares of GE Vernova by 0.8% in the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock worth $1,321,000 after purchasing an additional 19 shares during the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of GE Vernova by 9.0% in the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock worth $128,000 after purchasing an additional 20 shares during the last quarter. Finally, West Branch Capital LLC increased 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 purchasing an additional 20 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a report on Wednesday. Citigroup lifted 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. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 target price on the stock. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Finally, Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Four equities research 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 stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $598.50.

Insider Activity

In related 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 value of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $606.30 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The business has a 50 day simple moving average of $619.64 and a two-hundred day simple moving average of $508.47. The firm has a market capitalization of $165.05 billion, a PE ratio of 146.10, a price-to-earnings-growth ratio of 4.61 and a beta of 1.72.

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

GE Vernova Announces Dividend

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