Optimum Investment Advisors Has $1.71 Million Stake in GE Vernova Inc. $GEV

Optimum Investment Advisors boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 1.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,227 shares of the company’s stock after buying an additional 53 shares during the period. GE Vernova comprises about 0.7% of Optimum Investment Advisors’ portfolio, making the stock its 25th biggest holding. Optimum Investment Advisors’ holdings in GE Vernova were worth $1,708,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp acquired a new position in GE Vernova during the second quarter worth $29,000. Highline Wealth Partners LLC increased its position in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after buying an additional 18 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of GE Vernova in the second quarter valued at about $37,000. Advantage Trust Co acquired a new stake in shares of GE Vernova in the second quarter valued at about $40,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova in the first quarter valued at about $27,000.

Analyst Ratings Changes

GEV has been the topic of several research analyst reports. Robert W. Baird raised their price target on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. TD Cowen lowered their price target on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday. Wells Fargo & Company raised their price target on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Royal Bank Of Canada increased their target price on shares of GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a research note on Thursday. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $607.59.

GE Vernova Stock Performance

NYSE GEV opened at $584.68 on Friday. The firm has a 50-day simple moving average of $611.31 and a 200 day simple moving average of $531.04. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock has a market cap of $158.64 billion, a PE ratio of 95.23, a PEG ratio of 4.22 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

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.