SteelPeak Wealth LLC Buys 3,273 Shares of GE Vernova Inc. $GEV

SteelPeak Wealth LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 196.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,936 shares of the company’s stock after acquiring an additional 3,273 shares during the period. SteelPeak Wealth LLC’s holdings in GE Vernova were worth $2,612,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GEV. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the 1st quarter valued at approximately $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova in the 1st quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 53 shares in the last quarter. 1248 Management LLC bought a new position in shares of GE Vernova in the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the 1st quarter worth approximately $33,000.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Robert W. Baird lifted their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $605.00 price target on GE Vernova and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. Jefferies Financial Group lifted their price target on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Finally, Susquehanna lifted their price target on GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $598.50.

GE Vernova Trading Up 0.5%

Shares of NYSE:GEV 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 firm has a market capitalization of $165.03 billion, a PE ratio of 146.08, a PEG ratio of 4.39 and a beta of 1.72. The business’s 50 day moving average is $621.76 and its 200-day moving average is $503.77.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.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 firm earned $4.65 EPS. GE Vernova’s revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a $0.25 dividend. 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 is 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.