Leavell Investment Management Inc. Purchases 99 Shares of GE Vernova Inc. $GEV

Leavell Investment Management Inc. raised its position in shares of GE Vernova Inc. (NYSE:GEV) by 1.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,991 shares of the company’s stock after purchasing an additional 99 shares during the quarter. Leavell Investment Management Inc.’s holdings in GE Vernova were worth $3,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp bought a new stake in shares of GE Vernova during the second quarter valued at approximately $29,000. Highline Wealth Partners LLC boosted its stake in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares during the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of GE Vernova in the 2nd quarter worth $37,000. Advantage Trust Co bought a new stake in shares of GE Vernova in the 2nd quarter worth $40,000. Finally, IMA Advisory Services Inc. purchased a new position in shares of GE Vernova in the first quarter worth $27,000.

Analysts Set New Price Targets

GEV has been the topic of several recent analyst reports. TD Cowen dropped their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays lifted their price target on shares of GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research note on Thursday. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. UBS Group set a $710.00 target price on shares of GE Vernova in a report on Thursday. Finally, Citigroup cut their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.59.

GE Vernova Stock Performance

NYSE:GEV opened at $584.68 on Friday. The stock has a 50-day simple moving average of $611.31 and a two-hundred day simple moving average of $531.04. The firm has a market capitalization of $158.64 billion, a PE ratio of 95.23, a P/E/G ratio of 4.22 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 posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a $0.25 dividend. 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 dividend payout ratio is presently 16.29%.

Insider Activity

In other 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 value of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $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 is available at this hyperlink. 0.15% of the stock is currently 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.