Global Wealth Strategies & Associates Lowers Holdings in GE Vernova Inc. $GEV

Global Wealth Strategies & Associates decreased its stake in GE Vernova Inc. (NYSE:GEV) by 33.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50 shares of the company’s stock after selling 25 shares during the quarter. Global Wealth Strategies & Associates’ holdings in GE Vernova were worth $26,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova in the first quarter worth about $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova in the first quarter worth about $27,000. Orion Capital Management LLC acquired a new position in GE Vernova in the 4th quarter worth about $30,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares during the period. Finally, 1248 Management LLC acquired a new position in GE Vernova in the 1st quarter worth about $31,000.

Insider Activity at GE Vernova

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 completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $625.99 on Friday. The business has a 50 day simple moving average of $608.65 and a two-hundred day simple moving average of $468.10. GE Vernova Inc. has a 12 month low of $219.01 and a 12 month high of $677.29. The stock has a market capitalization of $170.41 billion, a P/E ratio of 150.84, a PEG ratio of 4.38 and a beta of 1.87.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GEV. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Mizuho cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price target for the company. in a report on Monday, July 28th. Morgan Stanley upped their price target on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Wolfe Research cut GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Finally, HSBC increased their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $580.04.

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.