Cassaday & Co Wealth Management LLC Acquires 102 Shares of GE Vernova Inc. $GEV

Cassaday & Co Wealth Management LLC lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 9.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,166 shares of the company’s stock after buying an additional 102 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in GE Vernova were worth $617,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. WFA Asset Management Corp acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $29,000. Highline Wealth Partners LLC grew its stake in shares of GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after buying an additional 18 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $37,000. Advantage Trust Co acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $40,000. Finally, Solstein Capital LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $44,000.

Insider Activity at GE Vernova

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

GE Vernova Stock Performance

Shares of NYSE GEV opened at $547.41 on Wednesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a market cap of $148.52 billion, a price-to-earnings ratio of 89.16, a PEG ratio of 4.32 and a beta of 1.68. The firm’s 50-day simple moving average is $606.31 and its 200 day simple moving average is $546.36.

GE Vernova (NYSE:GEV) last announced 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 business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the business posted ($0.35) EPS. GE Vernova’s revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Analyst Ratings Changes

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday, October 15th. Royal Bank Of Canada raised their target price on GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. HSBC raised their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Finally, Bank of America raised their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

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.