Vest Financial LLC Invests $11.16 Million in GE Vernova Inc. $GEV

Vest Financial LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,097 shares of the company’s stock, valued at approximately $11,163,000.

Several other large investors also recently bought and sold shares of the business. Sachetta LLC increased its position in 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 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 position in 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 position in 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 position in 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 recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. TD Cowen boosted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barclays boosted their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Finally, Morgan Stanley boosted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $598.65.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction 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 directly owned 7,590 shares of the company’s stock, 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 can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Trading Up 7.1%

Shares of GEV opened at $647.23 on Tuesday. The firm has a market capitalization of $176.19 billion, a P/E ratio of 155.96, a P/E/G ratio of 4.38 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm has a fifty day moving average price of $619.32 and a 200-day moving average price of $513.65.

GE Vernova (NYSE:GEV) last issued its 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. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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 paid a dividend of $0.25 per share. 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 payout ratio is currently 24.10%.

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.