Cornerstone Advisory LLC Invests $257,000 in GE Vernova Inc. $GEV

Cornerstone Advisory LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 486 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in GE Vernova by 29.4% during 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. GAMMA Investing LLC boosted its holdings in shares of GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after purchasing an additional 542 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of GE Vernova during the 1st quarter valued at approximately $328,000. Lecap Asset Management Ltd. purchased a new stake in GE Vernova during the 1st quarter valued at $407,000. Finally, Daymark Wealth Partners LLC raised its holdings in GE Vernova by 13.7% during the 1st quarter. Daymark Wealth Partners LLC now owns 7,010 shares of the company’s stock valued at $2,140,000 after buying an additional 842 shares during the period.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Jefferies Financial Group upped their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a report on Friday, September 12th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $607.48.

GE Vernova Price Performance

GE Vernova stock opened at $594.45 on Friday. The stock has a market cap of $161.82 billion, a price-to-earnings ratio of 96.82, a price-to-earnings-growth ratio of 4.17 and a beta of 1.72. The firm has a 50-day moving average of $612.04 and a two-hundred day moving average of $527.31. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the firm posted ($0.35) EPS. The business’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. 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 dividend 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.