Patton Fund Management Inc. Takes Position in GE Vernova Inc. $GEV

Patton Fund Management Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 4,938 shares of the company’s stock, valued at approximately $2,613,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of GE Vernova in the 1st quarter valued at about $912,000. Pines Wealth Management LLC purchased a new stake in shares of GE Vernova during the 2nd quarter valued at about $408,000. Resona Asset Management Co. Ltd. raised its holdings in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after buying an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. purchased a new stake in shares of GE Vernova during the 1st quarter valued at about $458,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after buying an additional 817 shares during the period.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

NYSE:GEV opened at $605.21 on Friday. GE Vernova Inc. has a 12-month low of $248.50 and a 12-month high of $677.29. The firm has a market capitalization of $164.75 billion, a P/E ratio of 145.83, a P/E/G ratio of 4.43 and a beta of 1.87. The business has a 50 day simple moving average of $622.99 and a 200 day simple moving average of $488.82.

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

GE Vernova Dividend Announcement

The firm 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 $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 24.10%.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Citigroup raised their target price on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Barclays raised their target price on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. TD Cowen lifted their price objective on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Morgan Stanley upped their target price on GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $592.35.

About GE Vernova

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.