GE Vernova Inc. $GEV Shares Sold by Johnson & White Wealth Management LLC

Johnson & White Wealth Management LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 864 shares of the company’s stock after selling 65 shares during the quarter. Johnson & White Wealth Management LLC’s holdings in GE Vernova were worth $457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GEV. Caitong International Asset Management Co. Ltd acquired a new stake in GE Vernova during the first quarter worth $912,000. Pines Wealth Management LLC acquired a new stake in GE Vernova during the second quarter worth $408,000. Resona Asset Management Co. Ltd. increased its stake in 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 acquiring an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova during the first quarter worth $458,000. Finally, Golden State Wealth Management LLC boosted its position in shares of 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 buying an additional 817 shares during the period.

Insiders Place Their Bets

In other GE Vernova 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, 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. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on GEV shares. Mizuho lowered GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price target for the company. in a research report on Monday, July 28th. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. TD Cowen lifted their target price on GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a report on Friday, July 25th. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Finally, Bank of America lifted their target price on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $592.35.

GE Vernova Stock Down 0.4%

Shares of GEV stock opened at $605.21 on Friday. The stock has a market capitalization of $164.75 billion, a PE ratio of 145.83, a price-to-earnings-growth ratio of 4.41 and a beta of 1.87. GE Vernova Inc. has a 52-week low of $248.50 and a 52-week high of $677.29. The stock’s 50-day moving average price is $622.99 and its 200 day moving average price is $490.14.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. 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 disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is currently 24.10%.

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.