Ibex Wealth Advisors Invests $2.49 Million in GE Vernova Inc. $GEV

Ibex Wealth Advisors acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,710 shares of the company’s stock, valued at approximately $2,493,000.

Other hedge funds have also recently bought and sold shares of the company. WFA Asset Management Corp bought a new position in shares of GE Vernova during the 2nd quarter valued at about $29,000. Highline Wealth Partners LLC raised its holdings in shares of GE Vernova by 34.6% in the 2nd 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. Raleigh Capital Management Inc. acquired a new stake in GE Vernova during the second quarter valued at approximately $37,000. Advantage Trust Co bought a new stake in GE Vernova during the second quarter worth approximately $40,000. Finally, Solstein Capital LLC acquired a new position in GE Vernova in the second quarter worth approximately $44,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. UBS Group set a $710.00 price objective on GE Vernova in a research report on Thursday, October 23rd. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Morgan Stanley increased their price target on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Glj Research lifted their price target on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, HSBC upped their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $607.81.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Trading Up 4.6%

Shares of GE Vernova stock opened at $575.61 on Monday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The company has a market cap of $156.18 billion, a P/E ratio of 93.75, a P/E/G ratio of 4.28 and a beta of 1.69. The stock has a 50-day moving average price of $602.58 and a 200 day moving average price of $551.35.

GE Vernova (NYSE:GEV) last issued its earnings results 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 business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business 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 $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio 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.