Live Oak Private Wealth LLC Purchases New Position in GE Vernova Inc. $GEV

Live Oak Private Wealth LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 403 shares of the company’s stock, valued at approximately $213,000.

A number of other large investors have also recently modified their holdings of the stock. Assetmark Inc. boosted its position in shares of GE Vernova by 17.7% during the second quarter. Assetmark Inc. now owns 16,605 shares of the company’s stock valued at $8,786,000 after purchasing an additional 2,501 shares in the last quarter. Keybank National Association OH raised its holdings in GE Vernova by 9.0% during the second quarter. Keybank National Association OH now owns 11,575 shares of the company’s stock valued at $6,125,000 after acquiring an additional 960 shares during the period. HBK Sorce Advisory LLC raised its stake in GE Vernova by 5.9% during the 2nd quarter. HBK Sorce Advisory LLC now owns 4,586 shares of the company’s stock valued at $2,427,000 after purchasing an additional 256 shares during the period. Premier Path Wealth Partners LLC raised its position in shares of GE Vernova by 11.7% during the second quarter. Premier Path Wealth Partners LLC now owns 1,724 shares of the company’s stock valued at $913,000 after buying an additional 181 shares during the last quarter. Finally, Spire Wealth Management raised its position in shares of GE Vernova by 22.8% during the second quarter. Spire Wealth Management now owns 4,519 shares of the company’s stock valued at $2,391,000 after buying an additional 839 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GEV shares. Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Morgan Stanley increased their price target on GE Vernova from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Bank of America increased their price target on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, HSBC raised their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $607.07.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

GEV stock opened at $577.44 on Thursday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company has a market capitalization of $156.67 billion, a P/E ratio of 94.05, a price-to-earnings-growth ratio of 4.12 and a beta of 1.72. The firm’s fifty day simple moving average is $609.33 and its 200-day simple moving average is $537.88.

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

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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.