Ignite Planners LLC Has $545,000 Stake in GE Vernova Inc. $GEV

Ignite Planners LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 948 shares of the company’s stock after selling 37 shares during the period. Ignite Planners LLC’s holdings in GE Vernova were worth $545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC increased its holdings in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in GE Vernova during the 2nd quarter valued at $37,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova during the 1st quarter valued at $27,000. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the 1st quarter valued at $27,000. Finally, West Branch Capital LLC increased its holdings in GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after purchasing an additional 20 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $605.00 price target on GE Vernova and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. UBS Group assumed coverage on GE Vernova in a research report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, BMO Capital Markets increased their price objective on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $598.50.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by corporate insiders.

GE Vernova Stock Up 3.2%

NYSE:GEV opened at $625.47 on Thursday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm has a market capitalization of $170.27 billion, a P/E ratio of 150.72, a P/E/G ratio of 4.41 and a beta of 1.72. The stock’s fifty day simple moving average is $621.18 and its 200-day simple moving average is $504.60.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) 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 business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the company earned $4.65 EPS. The firm’s revenue 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 expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

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