Wedmont Private Capital Acquires 7,227 Shares of GE Vernova Inc. $GEV

by · The Cerbat Gem

Wedmont Private Capital boosted its holdings in shares of GE Vernova Inc. (NYSE:GEVFree Report) by 169.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,490 shares of the company’s stock after buying an additional 7,227 shares during the quarter. Wedmont Private Capital’s holdings in GE Vernova were worth $6,156,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock valued at $653,769,000 after acquiring an additional 2,135,066 shares during the period. AQR Capital Management LLC lifted 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 in the last quarter. Amundi grew its holdings in GE Vernova by 109.0% during 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 during the period. 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 worth $282,946,000 after buying an additional 799,388 shares during the period. Finally, Nuveen LLC purchased a new position in shares of GE Vernova during the 1st quarter valued at about $223,556,000.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GEV has been the topic of several analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, July 24th. Jefferies Financial Group raised their price target on GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a report on Friday, September 12th. Wells Fargo & Company boosted their price objective 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 target price on GE Vernova and gave the stock a “buy” rating in a research report on Monday. Finally, Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $592.35.

Read Our Latest Research Report on GE Vernova

GE Vernova Trading Down 0.5%

NYSE:GEV opened at $614.69 on Thursday. The company has a market cap of $167.33 billion, a price-to-earnings ratio of 148.12, a price-to-earnings-growth ratio of 4.50 and a beta of 1.87. GE Vernova Inc. has a twelve month low of $234.00 and a twelve month high of $677.29. The stock has a fifty day simple moving average of $613.95 and a 200-day simple moving average of $473.14.

GE Vernova (NYSE:GEVGet Free Report) last posted its quarterly 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 the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 24.10%.

GE Vernova Profile

(Free Report)

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.

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