OMC Financial Services LTD Acquires New Position in GE Vernova Inc. $GEV

OMC Financial Services LTD acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 5,610 shares of the company’s stock, valued at approximately $2,969,000. GE Vernova accounts for 1.2% of OMC Financial Services LTD’s holdings, making the stock its 23rd biggest holding.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its position in GE Vernova by 252.9% during 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 during the last quarter. Amundi increased its holdings in shares of GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after acquiring an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after acquiring 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 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after acquiring an additional 799,388 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in GE Vernova in the 1st quarter worth approximately $223,556,000.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Mizuho increased their price target on GE Vernova from $670.00 to $677.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Robert W. Baird boosted their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. TD Cowen raised their target price on shares of GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Morgan Stanley lifted their target price on shares of GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Finally, Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Four research 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 given a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $601.44.

GE Vernova Stock Down 1.5%

GE Vernova stock opened at $585.12 on Wednesday. The stock has a market cap of $159.28 billion, a price-to-earnings ratio of 140.99, a price-to-earnings-growth ratio of 4.30 and a beta of 1.72. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The business has a 50 day moving average price of $613.83 and a two-hundred day moving average price of $524.82.

GE Vernova (NYSE:GEV) last issued 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 firm had revenue of $9.11 billion during 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%.GE Vernova’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $4.65 earnings per share. On average, analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 payout ratio is 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.