Summit Place Financial Advisors LLC Has $5.96 Million Stake in GE Vernova Inc. $GEV

Summit Place Financial Advisors LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,265 shares of the company’s stock after selling 25 shares during the period. GE Vernova makes up about 3.0% of Summit Place Financial Advisors LLC’s investment portfolio, making the stock its 6th largest holding. Summit Place Financial Advisors LLC’s holdings in GE Vernova were worth $5,961,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sachetta LLC boosted its stake in GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares during the last quarter. Highline Wealth Partners LLC boosted its stake 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 during the last quarter. Atlas Brown Inc. boosted its stake in GE Vernova by 0.8% during the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after purchasing an additional 19 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in GE Vernova by 9.0% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock valued at $128,000 after purchasing an additional 20 shares during the last quarter. Finally, West Branch Capital LLC boosted its stake 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 during the last quarter.

GE Vernova Stock Performance

NYSE GEV opened at $606.30 on Friday. The company has a market capitalization of $165.05 billion, a PE ratio of 146.10, a price-to-earnings-growth ratio of 4.61 and a beta of 1.72. The business’s fifty day moving average is $619.64 and its 200 day moving average is $508.47. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The company 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%.GE Vernova’s quarterly revenue 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, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business 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. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Wall Street Analysts Forecast Growth

Several analysts have commented on GEV shares. Susquehanna increased their target price on GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Robert W. Baird raised their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. 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. Finally, UBS Group started coverage on GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 price target on the stock. Four investment 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. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $598.50.

Insiders Place Their Bets

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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

GE Vernova Company 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.