Meridian Wealth Partners LLC Makes New $316,000 Investment in GE Vernova Inc. $GEV

Meridian Wealth Partners LLC bought a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 597 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds also recently made changes to their positions in GEV. WFA Asset Management Corp bought a new position in GE Vernova in the second quarter worth $29,000. 1248 Management LLC purchased a new stake in shares of GE Vernova in the 1st quarter worth about $31,000. Saudi Central Bank bought a new position in shares of GE Vernova in the 1st quarter worth about $33,000. Ransom Advisory Ltd bought a new position in shares of GE Vernova in the 1st quarter worth about $33,000. Finally, Highline Wealth Partners LLC lifted its position in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the period.

GE Vernova Stock Up 1.3%

Shares of NYSE GEV opened at $597.59 on Friday. The firm has a market cap of $162.14 billion, a P/E ratio of 97.33, a PEG ratio of 4.39 and a beta of 1.68. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a 50 day moving average of $592.17 and a 200 day moving average of $568.67.

GE Vernova (NYSE:GEV) last posted its 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). 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 during the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the previous year, the business posted ($0.35) EPS. The firm’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 expect 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 was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 16.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GEV shares. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research note on Monday, September 15th. Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. UBS Group set a $710.00 target price on GE Vernova in a report on Thursday, October 23rd. Finally, Citigroup cut their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Four 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 assigned a Sell rating to the company. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target 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.