RWQ Financial Management Services Inc. Acquires 1,300 Shares of GE Vernova Inc. $GEV

RWQ Financial Management Services Inc. lifted its position in GE Vernova Inc. (NYSE:GEV) by 57.8% in the second quarter, HoldingsChannel.com reports. The firm owned 3,550 shares of the company’s stock after acquiring an additional 1,300 shares during the period. GE Vernova comprises 0.8% of RWQ Financial Management Services Inc.’s investment portfolio, making the stock its 18th largest holding. RWQ Financial Management Services Inc.’s holdings in GE Vernova were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GEV. AQR Capital Management LLC raised its stake in shares of GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after purchasing an additional 892,549 shares in the last quarter. Amundi raised its stake in shares of GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after purchasing an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of GE Vernova by 10,044.9% in the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares in the last quarter. TD Asset Management Inc raised its stake in shares of GE Vernova by 627.2% in the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Finally, Nuveen LLC acquired a new position in GE Vernova during the first quarter worth $223,556,000.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GEV. TD Cowen increased their price objective on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. JPMorgan Chase & Co. increased their price objective on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. UBS Group began coverage on GE Vernova in a research note on Monday, July 7th. They set a “buy” rating and a $614.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group increased their price objective on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $592.61.

Insider Transactions at GE Vernova

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

GE Vernova Stock Performance

Shares of GEV stock opened at $599.62 on Friday. The stock’s fifty day moving average is $616.42 and its 200-day moving average is $519.27. The stock has a market capitalization of $163.23 billion, a PE ratio of 144.49, a PEG ratio of 4.36 and a beta of 1.72. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

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

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued 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 currently 24.10%.

GE Vernova 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.