Meyer Handelman Co. Acquires 22 Shares of GE Vernova Inc. $GEV

Meyer Handelman Co. boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,027 shares of the company’s stock after purchasing an additional 22 shares during the quarter. Meyer Handelman Co.’s holdings in GE Vernova were worth $20,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. bought a new stake in GE Vernova during the 1st quarter valued at approximately $27,000. EQ Wealth Advisors LLC bought a new stake in GE Vernova during the 1st quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC increased its stake 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 acquiring an additional 53 shares during the last quarter. 1248 Management LLC bought a new stake in GE Vernova in the 1st quarter worth approximately $31,000. Finally, Ransom Advisory Ltd bought a new stake in GE Vernova in the 1st quarter worth approximately $33,000.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $606.80 on Friday. The stock has a market cap of $165.18 billion, a price-to-earnings ratio of 146.22, a price-to-earnings-growth ratio of 4.58 and a beta of 1.87. The stock has a 50 day moving average price of $622.39 and a 200-day moving average price of $486.60. GE Vernova Inc. has a one year low of $247.07 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The firm 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 company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GEV shares. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Bank of America lifted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Barclays lifted their price objective on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Wolfe Research downgraded GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Finally, Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from 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.