Petra Financial Advisors Inc. Invests $540,000 in GE Vernova Inc. $GEV

Petra Financial Advisors Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel reports. The firm acquired 1,021 shares of the company’s stock, valued at approximately $540,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sachetta LLC raised its holdings in shares of GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares during the last quarter. Highline Wealth Partners LLC grew its holdings in shares of 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 purchasing an additional 18 shares in the last quarter. Atlas Brown Inc. grew its stake in GE Vernova by 0.8% in the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock worth $1,321,000 after buying an additional 19 shares in the last quarter. Princeton Global Asset Management LLC grew its position in GE Vernova by 14.4% in the second quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock worth $80,000 after acquiring an additional 19 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted its holdings in shares of GE Vernova by 9.0% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock worth $128,000 after purchasing an additional 20 shares in the last quarter.

Analyst Ratings Changes

GEV has been the subject of several analyst reports. Royal Bank Of Canada upped their price target 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, October 23rd. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Citigroup dropped their price objective on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. TD Cowen dropped their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, Redburn Partners set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.07.

Insider Activity at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was 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. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Trading Up 0.0%

Shares of GEV stock opened at $584.50 on Tuesday. The company has a 50 day simple moving average of $610.51 and a two-hundred day simple moving average of $534.28. The stock has a market cap of $158.59 billion, a P/E ratio of 95.20, a P/E/G ratio of 4.22 and a beta of 1.72. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results 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 business 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 company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed 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. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is presently 16.29%.

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.