Patten & Patten Inc. TN Boosts Holdings in GE Vernova Inc. $GEV

Patten & Patten Inc. TN increased its position in GE Vernova Inc. (NYSE:GEV) by 51.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,134 shares of the company’s stock after buying an additional 2,096 shares during the quarter. Patten & Patten Inc. TN’s holdings in GE Vernova were worth $3,246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after buying an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of GE Vernova by 21.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after buying an additional 367,150 shares during the period. Wellington Management Group LLP increased its stake in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after buying an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after buying an additional 622,730 shares during the period.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

GEV has been the topic of several analyst reports. Bank of America lifted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Morgan Stanley boosted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Barclays boosted their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Redburn Partners set a $475.00 price objective on shares of GE Vernova in a research report on Wednesday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $592.07.

GE Vernova Trading Down 4.1%

Shares of GEV stock opened at $617.78 on Thursday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The stock has a market cap of $168.17 billion, a PE ratio of 148.86, a price-to-earnings-growth ratio of 4.67 and a beta of 1.72. The company’s fifty day moving average price is $618.29 and its 200-day moving average price is $515.27.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter in the previous year, the business posted $4.65 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. 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 fiscal year.

GE Vernova Dividend Announcement

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

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.