GE Vernova Inc. $GEV Shares Bought by Atlas Brown Inc.

by · The Markets Daily

Atlas Brown Inc. grew its stake in GE Vernova Inc. (NYSE:GEVFree Report) by 0.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,496 shares of the company’s stock after purchasing an additional 19 shares during the period. Atlas Brown Inc.’s holdings in GE Vernova were worth $1,321,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in GE Vernova in the 1st quarter valued at $912,000. Resona Asset Management Co. Ltd. raised its position in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in GE Vernova in the 1st quarter valued at $458,000. Golden State Wealth Management LLC raised its position in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after buying an additional 817 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in GE Vernova by 8.5% during the 1st quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company’s stock worth $11,485,000 after buying an additional 2,942 shares during the last quarter.

Analyst Ratings Changes

GEV has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Barclays increased their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. UBS Group began coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 price target for the company. Jefferies Financial Group increased their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a report on Friday. Finally, The Goldman Sachs Group increased their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $580.04.

Read Our Latest Stock Analysis on GEV

GE Vernova Stock Down 1.3%

GEV opened at $625.99 on Monday. The firm’s 50 day moving average is $608.65 and its 200-day moving average is $469.09. The firm has a market capitalization of $170.41 billion, a P/E ratio of 150.84, a P/E/G ratio of 4.32 and a beta of 1.88. GE Vernova Inc. has a 52-week low of $219.01 and a 52-week high of $677.29.

GE Vernova (NYSE:GEVGet Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were 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 owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by insiders.

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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