Praxis Investment Management Inc. Invests $3.12 Million in GE Vernova Inc. $GEV

Praxis Investment Management Inc. bought a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,900 shares of the company’s stock, valued at approximately $3,122,000.

Several other institutional investors have also recently made changes to their positions in GEV. EQ Wealth Advisors LLC bought a new stake in shares of GE Vernova in the 1st quarter worth $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the 1st quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 53 shares in the last quarter. 1248 Management LLC bought a new stake in shares of GE Vernova in the 1st quarter worth $31,000. Finally, Saudi Central Bank bought a new stake in shares of GE Vernova in the 1st quarter worth $33,000.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays increased their price target 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. Jefferies Financial Group increased their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $592.61.

GE Vernova Stock Down 2.3%

Shares of NYSE:GEV opened at $601.91 on Friday. The firm has a market capitalization of $163.85 billion, a PE ratio of 145.04, a P/E/G ratio of 4.46 and a beta of 1.72. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a 50-day moving average price of $617.40 and a two-hundred day moving average price of $517.31.

GE Vernova (NYSE:GEV) last issued its 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. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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