VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Shares in GE Vernova Inc. $GEV

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,800 shares of the company’s stock, valued at approximately $3,598,000.

Several other institutional investors also recently modified their holdings of the stock. Level Wealth Management LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at approximately $301,000. Spirit of America Management Corp NY lifted its stake in GE Vernova by 33.3% in the 2nd quarter. Spirit of America Management Corp NY now owns 1,600 shares of the company’s stock valued at $847,000 after acquiring an additional 400 shares in the last quarter. Quotient Wealth Partners LLC raised its stake in shares of GE Vernova by 23.5% during the 2nd quarter. Quotient Wealth Partners LLC now owns 1,423 shares of the company’s stock worth $753,000 after purchasing an additional 271 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in shares of GE Vernova by 3.2% during the 2nd quarter. Koshinski Asset Management Inc. now owns 3,140 shares of the company’s stock worth $1,662,000 after purchasing an additional 98 shares in the last quarter. Finally, RWQ Financial Management Services Inc. raised its stake in GE Vernova by 57.8% in the 2nd quarter. RWQ Financial Management Services Inc. now owns 3,550 shares of the company’s stock valued at $1,878,000 after acquiring an additional 1,300 shares during the period.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GEV has been the topic of a number of research reports. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Wells Fargo & Company upped their price objective on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group upped their price objective on GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a report on Friday, September 12th. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a report on Monday, September 15th. Finally, Melius Research set a $740.00 target price on GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $601.44.

GE Vernova Stock Down 0.9%

Shares of GEV stock opened at $594.46 on Tuesday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a market cap of $161.82 billion, a P/E ratio of 143.24, a P/E/G ratio of 4.34 and a beta of 1.72. The business has a fifty day simple moving average of $615.29 and a 200 day simple moving average of $524.40.

GE Vernova (NYSE:GEV) last announced 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 business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the company earned $4.65 EPS. GE Vernova’s revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio is currently 24.10%.

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.