421 Shares in GE Vernova Inc. $GEV Bought by Townsend & Associates Inc

Townsend & Associates Inc bought a new position in shares of GE Vernova Inc. (NYSE:GEVFree Report) in the second quarter, Holdings Channel.com reports. The fund bought 421 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also bought and sold shares of GEV. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the 1st quarter worth about $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the 1st quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC grew its stake in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares during the period. 1248 Management LLC acquired a new stake in GE Vernova during the first quarter worth approximately $31,000. Finally, Saudi Central Bank bought a new stake in GE Vernova in the first quarter worth approximately $33,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GEV shares. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Redburn Partners set a $475.00 target price on shares of GE Vernova in a research note on Wednesday. Robert W. Baird raised their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Finally, HSBC upped their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $592.61.

Get Our Latest Stock Report on GE Vernova

GE Vernova Trading Down 0.4%

GEV opened at $599.62 on Monday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a market cap of $163.23 billion, a price-to-earnings ratio of 144.49, a PEG ratio of 4.34 and a beta of 1.72. The company’s fifty day moving average price is $616.42 and its two-hundred day moving average price is $522.14.

GE Vernova (NYSE:GEVGet Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the business posted $4.65 EPS. The firm’s 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 analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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 of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 24.10%.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

GE Vernova Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GE Vernova (NYSE:GEV)

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