GE Vernova Inc. $GEV is 1858 Wealth Management LLC’s 6th Largest Position

1858 Wealth Management LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,538 shares of the company’s stock after purchasing an additional 368 shares during the quarter. GE Vernova accounts for about 3.7% of 1858 Wealth Management LLC’s portfolio, making the stock its 6th biggest position. 1858 Wealth Management LLC’s holdings in GE Vernova were worth $5,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sachetta LLC raised its stake 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 position in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the last quarter. Atlas Brown Inc. increased its position in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after acquiring an additional 19 shares during the last quarter. Physician Wealth Advisors Inc. increased its position in shares of GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock valued at $128,000 after acquiring an additional 20 shares during the last quarter. Finally, West Branch Capital LLC increased its position in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after acquiring an additional 20 shares during the last quarter.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by insiders.

GE Vernova Price Performance

NYSE:GEV opened at $606.30 on Friday. The business has a fifty day simple moving average of $619.64 and a two-hundred day simple moving average of $509.80. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The company has a market capitalization of $165.05 billion, a P/E ratio of 146.10, a P/E/G ratio of 4.40 and a beta of 1.72.

GE Vernova (NYSE:GEV) last released its 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. 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 the consensus estimate of $8.78 billion. During the same period last year, the business posted $4.65 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on GEV. Royal Bank Of Canada set a $605.00 price target on GE Vernova and gave the company a “sector perform” rating in a research report on Wednesday, October 1st. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Morgan Stanley increased their price target on GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Bank of America increased their price target on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Finally, UBS Group assumed coverage on GE Vernova in a research report on Monday, July 7th. They set a “buy” rating and a $614.00 price target for the company. 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 company. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $598.50.

About GE Vernova

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.