Worth Asset Management LLC Purchases New Stake in GE Vernova Inc. $GEV

Worth Asset Management LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,774 shares of the company’s stock, valued at approximately $1,468,000. GE Vernova comprises about 0.7% of Worth Asset Management LLC’s portfolio, making the stock its 29th biggest holding.

A number of other hedge funds also recently made changes to their positions in GEV. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova during the 1st quarter valued at about $912,000. Resona Asset Management Co. Ltd. boosted its stake in shares of GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Pines Wealth Management LLC purchased a new stake in shares of GE Vernova during the second quarter valued at approximately $408,000. Lockheed Martin Investment Management Co. purchased a new stake in GE Vernova in the first quarter worth $458,000. Finally, Golden State Wealth Management LLC lifted its stake in GE Vernova by 201.7% in the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after acquiring an additional 817 shares during the period.

Insider Buying and Selling

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value 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 approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GEV has been the subject of several analyst reports. Mizuho downgraded GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price target for the company. in a report on Monday, July 28th. HSBC lifted their price objective on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GE Vernova in a report on Thursday, July 24th. Robert W. Baird boosted their target price on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a research report on Monday. Four 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $592.35.

GE Vernova Stock Down 0.5%

GE Vernova stock opened at $611.45 on Friday. The firm has a market cap of $166.45 billion, a price-to-earnings ratio of 147.34, a price-to-earnings-growth ratio of 4.48 and a beta of 1.87. GE Vernova Inc. has a 52 week low of $238.11 and a 52 week high of $677.29. The business’s 50-day moving average price is $615.40 and its 200 day moving average price is $475.18.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 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 analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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 $0.25 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 24.10%.

GE Vernova Company 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.