Summit X LLC Buys 147 Shares of GE Vernova Inc. $GEV

Summit X LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 12.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,313 shares of the company’s stock after buying an additional 147 shares during the quarter. Summit X LLC’s holdings in GE Vernova were worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in GE Vernova during the 1st quarter valued at about $912,000. Pines Wealth Management LLC bought a new stake in GE Vernova during the 2nd quarter valued at $408,000. Resona Asset Management Co. Ltd. lifted its holdings in shares of GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after buying an additional 6,551 shares during the period. Dupree Financial Group LLC bought a new position in shares of GE Vernova during the 2nd quarter worth $253,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova during the first quarter valued at $458,000.

GE Vernova Trading Up 4.6%

Shares of GEV opened at $575.61 on Friday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The stock has a fifty day moving average price of $602.58 and a 200-day moving average price of $549.85. The firm has a market cap of $156.18 billion, a PE ratio of 93.75, a P/E/G ratio of 4.28 and a beta of 1.68.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $9.15 billion. During the same quarter last year, the business posted ($0.35) earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s 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 in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

GEV has been the subject of a number of research reports. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Robert W. Baird lifted their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Jefferies Financial Group restated a “hold” rating and set a $654.00 target price on shares of GE Vernova in a report on Monday, October 27th. Finally, Susquehanna increased their target price on GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target 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.