GE Vernova Inc. $GEV Holdings Lifted by Kovack Advisors Inc.
by Michael Walen · The Markets DailyKovack Advisors Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,436 shares of the company’s stock after buying an additional 149 shares during the quarter. Kovack Advisors Inc.’s holdings in GE Vernova were worth $1,818,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Earned Wealth Advisors LLC boosted its stake in GE Vernova by 9.6% during the second quarter. Earned Wealth Advisors LLC now owns 971 shares of the company’s stock valued at $514,000 after buying an additional 85 shares in the last quarter. IFG Advisory LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $262,000. Pinnacle Associates Ltd. lifted its stake in GE Vernova by 3.6% during the second quarter. Pinnacle Associates Ltd. now owns 11,091 shares of the company’s stock valued at $5,869,000 after buying an additional 387 shares in the last quarter. Putney Financial Group LLC lifted its stake in GE Vernova by 2,666.7% during the second quarter. Putney Financial Group LLC now owns 1,411 shares of the company’s stock valued at $747,000 after buying an additional 1,360 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. lifted its stake in GE Vernova by 6.6% during the second quarter. Mesirow Financial Investment Management Inc. now owns 4,510 shares of the company’s stock valued at $2,387,000 after buying an additional 280 shares in the last quarter.
Insider Buying and Selling
In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on 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 approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.
Wall Street Analyst Weigh In
GEV has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. UBS Group set a $710.00 price objective on shares of GE Vernova in a research note on Thursday, October 23rd. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $607.81.
View Our Latest Stock Analysis on GE Vernova
GE Vernova Trading Down 0.5%
Shares of GE Vernova stock opened at $574.80 on Friday. The stock has a 50-day moving average price of $608.71 and a 200 day moving average price of $538.14. The company has a market cap of $155.96 billion, a P/E ratio of 93.62, a P/E/G ratio of 4.28 and a beta of 1.72. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29.
GE Vernova (NYSE:GEV – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.
GE Vernova Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid 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 dividend payout ratio (DPR) is 16.29%.
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.
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