GE Vernova Inc. $GEV Shares Sold by Allegiance Financial Group Advisory Services LLC

Allegiance Financial Group Advisory Services LLC decreased its position in GE Vernova Inc. (NYSE:GEV) by 30.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 791 shares of the company’s stock after selling 339 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in GE Vernova were worth $419,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GEV. AQR Capital Management LLC lifted its holdings in shares of GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after buying an additional 892,549 shares during the period. Amundi boosted its position in shares of GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after purchasing an additional 868,927 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares during the period. TD Asset Management Inc boosted its position in shares of GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after purchasing an additional 799,388 shares during the period. Finally, Nuveen LLC acquired a new position in shares of GE Vernova in the 1st quarter valued at $223,556,000.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.

GE Vernova Trading Up 3.2%

Shares of GE Vernova stock opened at $625.47 on Thursday. The stock has a 50-day moving average price of $621.18 and a 200 day moving average price of $504.60. The company has a market cap of $170.27 billion, a P/E ratio of 150.72, a P/E/G ratio of 4.41 and a beta of 1.72. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the business earned $4.65 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. 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 company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GEV shares. Susquehanna increased their price target on GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Robert W. Baird increased their price target on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Melius Research set a $740.00 price target on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Citigroup increased their price target on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, Glj Research started coverage on GE Vernova in a research report on Monday, June 23rd. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $598.50.

GE Vernova 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.