Linscomb Wealth Inc. Takes Position in GE Vernova Inc. $GEV

Linscomb Wealth Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 501 shares of the company’s stock, valued at approximately $265,000.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of GE Vernova by 2.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,196 shares of the company’s stock worth $4,165,000 after purchasing an additional 354 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after purchasing an additional 817 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in GE Vernova by 5.7% during the 1st quarter. DAVENPORT & Co LLC now owns 6,678 shares of the company’s stock valued at $2,039,000 after purchasing an additional 361 shares during the last quarter. Finally, Keybank National Association OH boosted its position in GE Vernova by 7.3% in the first quarter. Keybank National Association OH now owns 10,615 shares of the company’s stock valued at $3,241,000 after buying an additional 721 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GEV shares. Susquehanna raised their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Melius Research set a $740.00 price target on GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Finally, UBS Group set a $710.00 target price on shares of GE Vernova in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

Insider Activity

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

GE Vernova Stock Up 1.9%

GEV stock opened at $584.82 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The business’s fifty day moving average is $608.29 and its 200-day moving average is $539.97. The company has a market cap of $158.67 billion, a P/E ratio of 95.25, a price-to-earnings-growth ratio of 4.25 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 company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis 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.