VestGen Investment Management Sells 1,540 Shares of GE Vernova Inc. $GEV

VestGen Investment Management lessened its position in GE Vernova Inc. (NYSE:GEV) by 41.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,151 shares of the company’s stock after selling 1,540 shares during the period. GE Vernova comprises 0.8% of VestGen Investment Management’s portfolio, making the stock its 28th largest holding. VestGen Investment Management’s holdings in GE Vernova were worth $1,138,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ballast Advisors LLC bought a new position in shares of GE Vernova in the second quarter worth approximately $214,000. Ingalls & Snyder LLC lifted its stake in shares of GE Vernova by 18.0% in the second quarter. Ingalls & Snyder LLC now owns 5,740 shares of the company’s stock worth $3,037,000 after buying an additional 874 shares in the last quarter. Darden Wealth Group Inc lifted its stake in shares of GE Vernova by 1.6% in the second quarter. Darden Wealth Group Inc now owns 1,261 shares of the company’s stock worth $667,000 after buying an additional 20 shares in the last quarter. Interchange Capital Partners LLC bought a new position in shares of GE Vernova in the second quarter worth approximately $371,000. Finally, Brighton Jones LLC lifted its stake in shares of GE Vernova by 67.2% in the second quarter. Brighton Jones LLC now owns 5,404 shares of the company’s stock worth $2,859,000 after buying an additional 2,172 shares in the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GEV shares. Royal Bank Of Canada increased their price objective on shares of GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research report on Saturday. Barclays increased their price objective on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday. BMO Capital Markets increased their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Susquehanna increased their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research report on Thursday. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $607.59.

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 Trading Down 1.8%

GEV opened at $584.68 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a market capitalization of $158.64 billion, a PE ratio of 95.23, a PEG ratio of 4.22 and a beta of 1.72. The firm’s 50 day simple moving average is $611.31 and its two-hundred day simple moving average is $531.04.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 16.29%.

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.