MBL Wealth LLC Acquires New Position in GE Vernova Inc. $GEV

MBL Wealth LLC acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, Holdings Channel.com reports. The fund acquired 447 shares of the company’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC boosted its stake in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after buying an additional 18 shares during the period. Raleigh Capital Management Inc. purchased a new position in GE Vernova in the second quarter valued at $37,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the first quarter worth about $27,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova during the 1st quarter worth approximately $27,000. Finally, West Branch Capital LLC increased its holdings in GE Vernova by 25.6% in the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after buying an additional 20 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Performance

Shares of GEV opened at $595.07 on Monday. The stock has a fifty day moving average of $623.21 and a two-hundred day moving average of $501.17. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The company has a market capitalization of $161.99 billion, a PE ratio of 143.39, a price-to-earnings-growth ratio of 4.33 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the business earned $4.65 EPS. GE Vernova’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. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley raised their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Citigroup lifted their target price on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. HSBC boosted their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Wells Fargo & Company raised their target price on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Susquehanna boosted their price target on GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $598.50.

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.