PFG Investments LLC Has $3.30 Million Holdings in GE Vernova Inc. $GEV

PFG Investments LLC cut its stake in shares of GE Vernova Inc. (NYSE:GEV) by 14.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,239 shares of the company’s stock after selling 1,012 shares during the period. PFG Investments LLC’s holdings in GE Vernova were worth $3,301,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Consolidated Portfolio Review Corp acquired a new position in shares of GE Vernova during the 2nd quarter worth about $535,000. Columbia Asset Management grew its holdings in GE Vernova by 3.0% during the second quarter. Columbia Asset Management now owns 952 shares of the company’s stock valued at $504,000 after purchasing an additional 28 shares during the period. Truist Financial Corp grew its holdings in GE Vernova by 6.0% during the second quarter. Truist Financial Corp now owns 78,589 shares of the company’s stock valued at $41,585,000 after purchasing an additional 4,418 shares during the period. Westhampton Capital LLC acquired a new position in GE Vernova during the second quarter valued at approximately $339,000. Finally, Parkside Investments LLC acquired a new position in GE Vernova during the second quarter valued at approximately $260,000.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The shares were 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 in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

GEV stock opened at $614.57 on Wednesday. GE Vernova Inc. has a fifty-two week low of $248.50 and a fifty-two week high of $677.29. The business has a 50-day moving average of $625.00 and a 200-day moving average of $494.32. The stock has a market capitalization of $167.30 billion, a P/E ratio of 148.09, a P/E/G ratio of 4.39 and a beta of 1.87.

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 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 firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the prior year, the firm posted $4.65 EPS. The business’s revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho lowered shares of 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. Wells Fargo & Company boosted their target price on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. UBS Group began coverage on GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 target price for the company. Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.