Grimes & Company Inc. Has $1.86 Million Position in GE Vernova Inc. $GEV

Grimes & Company Inc. boosted its stake in GE Vernova Inc. (NYSE:GEV) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,513 shares of the company’s stock after purchasing an additional 35 shares during the quarter. Grimes & Company Inc.’s holdings in GE Vernova were worth $1,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEV. Vanguard Group Inc. grew its stake in shares of GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. boosted its holdings in GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after acquiring an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in GE Vernova by 21.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after acquiring an additional 367,150 shares during the period. Wellington Management Group LLP increased its holdings in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after acquiring an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares during the period.

Insider Buying and Selling

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. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Trading Up 1.3%

Shares of GEV opened at $602.55 on Tuesday. The stock has a 50 day moving average of $622.29 and a 200 day moving average of $503.05. The company has a market capitalization of $164.03 billion, a price-to-earnings ratio of 145.19, a PEG ratio of 4.33 and a beta of 1.72. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month 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 analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research reports. Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Bank of America lifted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Susquehanna upped their target price on shares of GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a report on Thursday, July 24th. Mizuho cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price target on the stock. in a research report on Monday, July 28th. Finally, Glj Research initiated coverage on GE Vernova in a report on Monday, June 23rd. They set a “buy” rating for the company. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.