Pinkerton Wealth LLC Makes New $2.88 Million Investment in GE Vernova Inc. $GEV

Pinkerton Wealth LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,450 shares of the company’s stock, valued at approximately $2,884,000.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in GE Vernova by 1.1% in the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after acquiring an additional 271,958 shares during the period. Geode Capital Management LLC grew its holdings in GE Vernova by 2.2% during the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after purchasing an additional 129,315 shares during the period. Norges Bank bought a new position in GE Vernova during the second quarter valued at $1,809,220,000. Goldman Sachs Group Inc. increased its position in GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after buying an additional 214,483 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GE Vernova by 21.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after buying an additional 367,150 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently commented on GEV. JPMorgan Chase & Co. upped their price target on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Citigroup lowered their price objective 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. Mizuho dropped their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Royal Bank Of Canada lifted their target price on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Finally, Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Stock Down 3.8%

GEV stock opened at $576.94 on Tuesday. The stock has a 50-day simple moving average of $590.84 and a two-hundred day simple moving average of $571.64. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The firm has a market capitalization of $156.54 billion, a PE ratio of 93.96, a PEG ratio of 4.46 and a beta of 1.71.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm 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%. GE Vernova’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 annualized dividend and a dividend 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.