NWK Group Inc. Invests $7.17 Million in GE Vernova Inc. $GEV

NWK Group Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,545 shares of the company’s stock, valued at approximately $7,167,000. GE Vernova accounts for approximately 2.5% of NWK Group Inc.’s holdings, making the stock its 20th biggest holding.

Several other institutional investors have also recently made changes to their positions in GEV. IMA Advisory Services Inc. bought a new position in shares of GE Vernova in the first quarter worth about $27,000. WFA Asset Management Corp bought a new stake in GE Vernova during the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares during the period. 1248 Management LLC bought a new stake in GE Vernova during the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank bought a new stake in GE Vernova during the 1st quarter valued at approximately $33,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GEV. UBS Group set a $710.00 target price on GE Vernova in a research note on Thursday, October 23rd. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Morgan Stanley raised their price target on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday. Finally, HSBC raised their price objective on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. 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 issued a Sell rating to the company. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $607.81.

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 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is owned by insiders.

GE Vernova Stock Performance

Shares of GEV stock opened at $584.82 on Friday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The firm has a market capitalization of $158.67 billion, a P/E ratio of 95.25, a P/E/G ratio of 4.25 and a beta of 1.72. The stock has a 50 day moving average price of $608.29 and a 200 day moving average price of $539.97.

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 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%.GE Vernova’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS 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 issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

About GE Vernova

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.