Biltmore Family Office LLC Makes New Investment in GE Vernova Inc. $GEV

Biltmore Family Office LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 540 shares of the company’s stock, valued at approximately $286,000.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after purchasing an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after purchasing an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of GE Vernova by 47.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares during the last quarter.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. 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 insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on GEV shares. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Barclays upped their price target on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. UBS Group set a $710.00 price target on shares of GE Vernova in a research note on Thursday, October 23rd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $654.00 price target on shares of GE Vernova in a research note on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $607.07.

GE Vernova Stock Performance

Shares of GEV opened at $570.64 on Wednesday. The firm’s 50-day simple moving average is $609.88 and its 200 day simple moving average is $536.09. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a market cap of $154.83 billion, a P/E ratio of 92.94, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its 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). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the company earned ($0.35) EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. 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 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 dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend 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.