Obermeyer Wealth Partners Makes New Investment in GE Vernova Inc. $GEV

Obermeyer Wealth Partners bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 421 shares of the company’s stock, valued at approximately $223,000.

Other large investors also recently bought and sold shares of the company. IMA Advisory Services Inc. purchased a new stake in GE Vernova during the 1st quarter worth approximately $27,000. WFA Asset Management Corp acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC lifted 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 acquiring an additional 53 shares during the period. 1248 Management LLC acquired a new stake in GE Vernova during the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank acquired a new stake in GE Vernova during the 1st quarter valued at approximately $33,000.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

GE Vernova Price Performance

GEV opened at $583.13 on Tuesday. The firm has a fifty day moving average price of $607.92 and a 200 day moving average price of $544.77. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock has a market cap of $158.22 billion, a P/E ratio of 94.97, a P/E/G ratio of 4.35 and a beta of 1.69.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to analyst estimates 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 was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio is 16.29%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Susquehanna lifted their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. BMO Capital Markets lifted their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Wells Fargo & Company boosted their target price on shares of GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $607.81.

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.