Diligent Investors LLC Buys New Position in GE Vernova Inc. $GEV

Diligent Investors LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 526 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC increased 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 acquiring an additional 18 shares in the last quarter. Atlas Brown Inc. grew its holdings in GE Vernova by 0.8% in the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock worth $1,321,000 after purchasing an additional 19 shares during the period. Physician Wealth Advisors Inc. increased its stake in GE Vernova by 9.0% in the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock valued at $128,000 after purchasing an additional 20 shares in the last quarter. West Branch Capital LLC raised its holdings in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after purchasing an additional 20 shares during the period. Finally, Grove Bank & Trust raised its holdings in shares of GE Vernova by 16.0% during the second quarter. Grove Bank & Trust now owns 167 shares of the company’s stock valued at $88,000 after purchasing an additional 23 shares during the period.

GE Vernova Trading Down 1.8%

Shares of GE Vernova stock opened at $595.07 on Friday. The company has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a price-to-earnings-growth ratio of 4.34 and a beta of 1.72. The stock has a fifty day simple moving average of $623.21 and a 200 day simple moving average of $500.03. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

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

GE Vernova Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Insider Activity at GE Vernova

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

Analyst Ratings Changes

A number of brokerages recently commented on GEV. Wells Fargo & Company boosted their target price on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Citigroup upped 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. Jefferies Financial Group increased their target price on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Finally, Bank of America boosted their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $598.50.

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.