Sky Investment Group LLC Purchases 272 Shares of GE Vernova Inc. $GEV

Sky Investment Group LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 14.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,198 shares of the company’s stock after buying an additional 272 shares during the period. Sky Investment Group LLC’s holdings in GE Vernova were worth $1,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GEV. EQ Wealth Advisors LLC bought a new position in GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. bought a new stake in GE Vernova in the first quarter valued at $27,000. Orion Capital Management LLC bought a new stake in GE Vernova in the fourth quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares in the last quarter. Finally, 1248 Management LLC bought a new stake in GE Vernova in the first quarter valued at $31,000.

GE Vernova Stock Performance

GE Vernova stock opened at $611.45 on Friday. GE Vernova Inc. has a fifty-two week low of $238.11 and a fifty-two week high of $677.29. The stock has a market cap of $166.45 billion, a PE ratio of 147.34, a price-to-earnings-growth ratio of 4.48 and a beta of 1.87. The firm’s 50-day simple moving average is $615.40 and its 200 day simple moving average is $475.18.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. The business 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%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wolfe Research downgraded shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Jefferies Financial Group lifted their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, TD Cowen boosted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $592.35.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

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.