GE Vernova Inc. $GEV Shares Acquired by Belpointe Asset Management LLC

Belpointe Asset Management LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 74.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,027 shares of the company’s stock after acquiring an additional 864 shares during the period. Belpointe Asset Management LLC’s holdings in GE Vernova were worth $1,073,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. EQ Wealth Advisors LLC purchased a new position in GE Vernova during the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. purchased a new position in GE Vernova during the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 53 shares during the last quarter. 1248 Management LLC purchased a new position in GE Vernova during the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank purchased a new position in GE Vernova during the 1st quarter worth approximately $33,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GEV shares. Morgan Stanley raised their price target on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Wells Fargo & Company lifted their target price on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. The Goldman Sachs Group lifted their target price on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Finally, BMO Capital Markets lifted their target price on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $598.50.

Insider Transactions at GE Vernova

In related 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 transaction of $2,046,000.00. Following the completion of the transaction, 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 document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

GE Vernova stock opened at $606.24 on Wednesday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a market cap of $165.03 billion, a PE ratio of 146.08, a price-to-earnings-growth ratio of 4.39 and a beta of 1.72. The stock’s 50 day moving average price is $621.76 and its 200 day moving average price is $503.77.

GE Vernova (NYSE:GEV) last posted 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. The firm had revenue of $9.11 billion for 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 company’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 business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company 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. 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 currently 24.10%.

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.