Hager Investment Management Services LLC Acquires 364 Shares of GE Vernova Inc. $GEV

Hager Investment Management Services LLC raised its holdings in GE Vernova Inc. (NYSE:GEV) by 38.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,306 shares of the company’s stock after acquiring an additional 364 shares during the quarter. Hager Investment Management Services LLC’s holdings in GE Vernova were worth $691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Vontobel Holding Ltd. grew its position in GE Vernova by 146.1% in the 2nd quarter. Vontobel Holding Ltd. now owns 22,520 shares of the company’s stock valued at $11,916,000 after acquiring an additional 13,370 shares during the last quarter. Maryland State Retirement & Pension System grew its position in GE Vernova by 4.3% in the 2nd quarter. Maryland State Retirement & Pension System now owns 13,288 shares of the company’s stock valued at $7,031,000 after acquiring an additional 549 shares during the last quarter. Optas LLC grew its position in GE Vernova by 5.3% in the 2nd quarter. Optas LLC now owns 2,063 shares of the company’s stock valued at $1,092,000 after acquiring an additional 103 shares during the last quarter. Massachusetts Wealth Management grew its position in GE Vernova by 0.9% in the 2nd quarter. Massachusetts Wealth Management now owns 6,053 shares of the company’s stock valued at $3,203,000 after acquiring an additional 54 shares during the last quarter. Finally, Eagle Strategies LLC bought a new position in GE Vernova in the 2nd quarter valued at $3,230,000.

Insider Transactions at GE Vernova

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEV. Jefferies Financial Group upped their target price on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Royal Bank Of Canada set a $605.00 target price on GE Vernova and gave the stock a “sector perform” rating in a report on Wednesday, October 1st. Wolfe Research cut GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, Melius Research set a $740.00 target price on GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

GE Vernova Price Performance

Shares of NYSE GEV opened at $625.47 on Thursday. The stock has a market capitalization of $170.27 billion, a P/E ratio of 150.72, a price-to-earnings-growth ratio of 4.41 and a beta of 1.72. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The business has a fifty day moving average price of $621.18 and a 200 day moving average price of $504.60.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company posted $4.65 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend 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.