Delta Investment Management LLC Boosts Holdings in GE Vernova Inc. $GEV

Delta Investment Management LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 26.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,816 shares of the company’s stock after buying an additional 382 shares during the period. Delta Investment Management LLC’s holdings in GE Vernova were worth $961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GEV. Brighton Jones LLC raised its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after buying an additional 542 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of GE Vernova in the first quarter worth $328,000. Transcend Capital Advisors LLC raised its holdings in shares of GE Vernova by 6.8% in the first quarter. Transcend Capital Advisors LLC now owns 3,248 shares of the company’s stock worth $992,000 after buying an additional 208 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its holdings in shares of GE Vernova by 1.3% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 3,156 shares of the company’s stock worth $963,000 after buying an additional 39 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

GEV has been the subject of a number of research analyst reports. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of GE Vernova in a research note on Saturday. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research note on Monday, September 15th. BMO Capital Markets increased their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Royal Bank Of Canada increased their price objective 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. 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 issued a Sell rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $607.59.

GE Vernova Stock Performance

GEV stock opened at $584.68 on Monday. The firm has a market cap of $158.64 billion, a PE ratio of 95.23, a P/E/G ratio of 4.22 and a beta of 1.72. The firm’s fifty day moving average is $611.31 and its 200 day moving average is $532.47. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion for 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%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company 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 yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 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.