Marks Group Wealth Management Inc Sells 22 Shares of GE Vernova Inc. $GEV

Marks Group Wealth Management Inc decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 983 shares of the company’s stock after selling 22 shares during the period. Marks Group Wealth Management Inc’s holdings in GE Vernova were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova during the first quarter valued at approximately $912,000. Pines Wealth Management LLC bought a new position in GE Vernova in the 2nd quarter valued at $408,000. Resona Asset Management Co. Ltd. increased its stake in shares of GE Vernova by 8.2% in 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. bought a new stake in shares of GE Vernova during the first quarter worth $458,000. Finally, Golden State Wealth Management LLC raised 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 acquiring an additional 817 shares during the last quarter.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $602.55 on Tuesday. The company has a 50 day moving average price of $622.29 and a two-hundred day moving average price of $503.05. The company has a market capitalization of $164.03 billion, a PE ratio of 145.19, a PEG ratio of 4.33 and a beta of 1.72. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 3.16% and a return on equity of 13.23%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Analysts Set New Price Targets

GEV has been the subject of a number of research reports. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research report on Monday, September 15th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Wells Fargo & Company boosted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Robert W. Baird lifted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $598.50.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.

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.