Market Street Wealth Management Advisors LLC Buys Shares of 511 GE Vernova Inc. $GEV

Market Street Wealth Management Advisors LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 511 shares of the company’s stock, valued at approximately $270,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in GE Vernova by 29.4% during 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. American Assets Inc. acquired a new position in GE Vernova during the fourth quarter worth $658,000. Tang Capital Management LLC acquired a new position in GE Vernova during the fourth quarter worth $891,000. Tidal Investments LLC boosted its stake in GE Vernova by 701.7% during the fourth quarter. Tidal Investments LLC now owns 58,294 shares of the company’s stock worth $19,175,000 after buying an additional 51,023 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new position in GE Vernova during the fourth quarter worth $17,729,000.

GE Vernova Stock Performance

Shares of GEV opened at $628.09 on Tuesday. The stock has a market capitalization of $170.98 billion, a P/E ratio of 151.35, a P/E/G ratio of 4.32 and a beta of 1.87. The company’s fifty day moving average is $610.59 and its two-hundred day moving average is $471.14. GE Vernova Inc. has a 1 year low of $225.24 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, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 24.10%.

Insider Transactions 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 transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GEV. Wells Fargo & Company raised their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Jefferies Financial Group raised their price target on shares of GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a report on Friday. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a report on Monday. The Goldman Sachs Group raised their price target on shares of GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. Finally, Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a “buy” rating in a report on Monday. Four research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $592.35.

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.