FNY Investment Advisers LLC Has $1.75 Million Stock Position in GE Vernova Inc. $GEV

FNY Investment Advisers LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 109.5% in the second quarter, HoldingsChannel reports. The fund owned 3,300 shares of the company’s stock after buying an additional 1,725 shares during the quarter. FNY Investment Advisers LLC’s holdings in GE Vernova were worth $1,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in GE Vernova during the first quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC acquired a new stake in shares of GE Vernova during the 1st quarter valued at about $31,000. Saudi Central Bank bought a new stake in shares of GE Vernova in the 1st quarter valued at approximately $33,000. Finally, Ransom Advisory Ltd acquired a new position in GE Vernova in the first quarter worth approximately $33,000.

GE Vernova Trading Down 1.5%

Shares of NYSE GEV opened at $585.12 on Wednesday. The firm has a market capitalization of $159.28 billion, a price-to-earnings ratio of 140.99, a PEG ratio of 4.30 and a beta of 1.72. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The business has a fifty day simple moving average of $613.83 and a 200 day simple moving average of $524.82.

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

GE Vernova Dividend Announcement

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s payout ratio is 24.10%.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of analyst reports. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a research note on Monday, September 15th. Wells Fargo & Company lifted their price target on GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Glj Research increased their price objective on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. UBS Group started coverage on shares of GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Finally, Bank of America upped their target price on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $601.44.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

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.