WealthPlan Investment Management LLC Boosts Stake in GE Vernova Inc. $GEV

WealthPlan Investment Management LLC grew its position in shares of GE Vernova Inc. (NYSE:GEV) by 16.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 983 shares of the company’s stock after acquiring an additional 140 shares during the period. WealthPlan Investment Management LLC’s holdings in GE Vernova were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of GE Vernova by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after acquiring an additional 432,830 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after acquiring an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after acquiring an additional 367,150 shares during the period. Wellington Management Group LLP grew its holdings in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after acquiring an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of GE Vernova by 47.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after acquiring an additional 622,730 shares during the period.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Royal Bank Of Canada set a $605.00 price target on GE Vernova and gave the stock a “sector perform” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. upped their price target on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Barclays upped their price target on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research note on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $592.61.

GE Vernova Trading Down 2.3%

GEV stock opened at $601.91 on Friday. The stock has a market capitalization of $163.85 billion, a PE ratio of 145.04, a price-to-earnings-growth ratio of 4.46 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The stock’s 50 day simple moving average is $617.40 and its 200 day simple moving average is $517.31.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Transactions at GE Vernova

In related 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

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.