OneAscent Wealth Management LLC Invests $300,000 in GE Vernova Inc. $GEV

OneAscent Wealth Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 567 shares of the company’s stock, valued at approximately $300,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the first quarter worth approximately $27,000. WFA Asset Management Corp bought a new stake in shares of GE Vernova during the second quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 53 shares during the period. 1248 Management LLC purchased a new position in shares of GE Vernova during the first quarter valued at $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova during the 1st quarter worth about $33,000.

Analyst Ratings Changes

A number of equities analysts recently commented on GEV shares. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. TD Cowen decreased their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Mizuho cut their target price on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Royal Bank Of Canada lifted their price objective on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Trading Down 1.8%

NYSE:GEV opened at $549.81 on Friday. 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 $149.17 billion, a PE ratio of 89.55, a P/E/G ratio of 4.16 and a beta of 1.68. The company’s 50 day moving average is $603.35 and its two-hundred day moving average is $546.47.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 16.29%.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 0.15% of the company’s stock.

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.