Sagespring Wealth Partners LLC Has $2.90 Million Stock Holdings in GE Vernova Inc. $GEV

Sagespring Wealth Partners LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 97.2% during the second quarter, Holdings Channel reports. The firm owned 5,489 shares of the company’s stock after acquiring an additional 2,706 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in GE Vernova were worth $2,904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. TD Asset Management Inc raised its stake in GE Vernova by 0.6% during the 2nd quarter. TD Asset Management Inc now owns 931,997 shares of the company’s stock worth $493,166,000 after buying an additional 5,155 shares during the period. Frazier Financial Advisors LLC raised its stake in GE Vernova by 95.8% during the 2nd quarter. Frazier Financial Advisors LLC now owns 186 shares of the company’s stock worth $98,000 after buying an additional 91 shares during the period. Wilmington Savings Fund Society FSB raised its stake in GE Vernova by 10.8% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 9,759 shares of the company’s stock worth $5,164,000 after buying an additional 950 shares during the period. RFG Advisory LLC acquired a new position in GE Vernova during the 2nd quarter worth approximately $267,000. Finally, Axxcess Wealth Management LLC raised its stake in GE Vernova by 17.3% during the 2nd quarter. Axxcess Wealth Management LLC now owns 6,591 shares of the company’s stock worth $3,488,000 after buying an additional 972 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GEV shares. Robert W. Baird upped 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. HSBC upped their price target on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. TD Cowen upped their price target on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Barclays boosted their price objective on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $598.65.

GE Vernova Stock Performance

Shares of GEV opened at $644.54 on Wednesday. The stock has a 50 day moving average price of $619.21 and a two-hundred day moving average price of $514.56. The firm has a market capitalization of $175.46 billion, a P/E ratio of 155.31, a P/E/G ratio of 4.69 and a beta of 1.72. GE Vernova Inc. has a 52 week low of $252.25 and a 52 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 (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is currently 24.10%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

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.