Lake Hills Wealth Management LLC Invests $269,000 in GE Vernova Inc. $GEV

Lake Hills Wealth Management LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 508 shares of the company’s stock, valued at approximately $269,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova in the first quarter valued at approximately $912,000. Resona Asset Management Co. Ltd. grew its position in shares of GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after buying an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of GE Vernova during the first quarter worth approximately $458,000. Golden State Wealth Management LLC lifted its stake in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after purchasing an additional 817 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in GE Vernova by 8.5% during the first quarter. Public Sector Pension Investment Board now owns 37,620 shares of the company’s stock worth $11,485,000 after purchasing an additional 2,942 shares during the last quarter.

Insider Activity at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 0.5%

GEV opened at $614.69 on Thursday. GE Vernova Inc. has a 12-month low of $234.00 and a 12-month high of $677.29. The stock has a market cap of $167.33 billion, a price-to-earnings ratio of 148.12, a PEG ratio of 4.50 and a beta of 1.87. The business has a 50 day moving average of $613.95 and a 200-day moving average of $473.14.

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

GE Vernova Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on GEV shares. TD Cowen raised their price objective on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Susquehanna raised their target price on GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a “buy” rating on the stock. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research note on Monday. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of GE Vernova in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $592.35.

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.