Keb Asset Management LLC Acquires New Shares in GE Vernova Inc. $GEV

Keb Asset Management LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 407 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds also recently modified their holdings of the company. EQ Wealth Advisors LLC bought a new position in GE Vernova during the 1st quarter worth $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova during the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC raised its position in 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 during the last quarter. 1248 Management LLC bought a new position in GE Vernova during the 1st quarter worth $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova during the 1st quarter worth $33,000.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GEV has been the subject of several analyst reports. Citigroup raised their target price on GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. The Goldman Sachs Group raised their target price on GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Jefferies Financial Group raised their target price on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research report on Saturday, September 27th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $598.50.

GE Vernova Trading Down 1.8%

GEV stock opened at $595.07 on Friday. The stock has a 50-day moving average price of $623.21 and a 200-day moving average price of $498.89. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a market cap of $161.99 billion, a PE ratio of 143.39, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the company posted $4.65 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given 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 payout ratio is presently 24.10%.

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.