1858 Wealth Management LLC Has $5.05 Million Stock Position in GE Vernova Inc. $GEV

1858 Wealth Management LLC boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 9,538 shares of the company’s stock after buying an additional 368 shares during the period. GE Vernova makes up approximately 3.7% of 1858 Wealth Management LLC’s investment portfolio, making the stock its 6th biggest position. 1858 Wealth Management LLC’s holdings in GE Vernova were worth $5,047,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its stake in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after buying an additional 18 shares during the period. Raleigh Capital Management Inc. bought a new stake in GE Vernova during the second quarter valued at $37,000. IMA Advisory Services Inc. bought a new stake in GE Vernova during the first quarter valued at $27,000. EQ Wealth Advisors LLC bought a new stake in GE Vernova during the first quarter valued at $27,000. Finally, West Branch Capital LLC boosted its stake in GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after buying an additional 20 shares during the period.

Insider Activity 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 value of $2,046,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GEV shares. BMO Capital Markets lifted their price objective on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. TD Cowen lifted their price target on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. UBS Group started coverage on GE Vernova in a research note on Monday, July 7th. They set a “buy” rating and a $614.00 price target for the company. Barclays lifted their price target on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $598.50.

GE Vernova Trading Down 4.4%

GEV opened at $606.30 on Friday. The company has a market cap of $165.05 billion, a P/E ratio of 146.10, a P/E/G ratio of 4.40 and a beta of 1.72. The business’s 50-day moving average price is $619.64 and its 200-day moving average price is $509.80. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month 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, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate 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 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 24.10%.

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.