CMG Global Holdings LLC Buys 403 Shares of GE Vernova Inc. $GEV

CMG Global Holdings LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 7.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,490 shares of the company’s stock after acquiring an additional 403 shares during the quarter. GE Vernova accounts for 1.6% of CMG Global Holdings LLC’s portfolio, making the stock its 21st largest position. CMG Global Holdings LLC’s holdings in GE Vernova were worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position 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 purchasing an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after buying an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in GE Vernova by 21.4% during the first 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 buying an additional 367,150 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after buying an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock valued at $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

GE Vernova Stock Down 0.4%

GEV stock opened at $599.62 on Monday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a market cap of $163.23 billion, a P/E ratio of 144.49, a PEG ratio of 4.34 and a beta of 1.72. The business has a fifty day moving average of $616.42 and a 200-day moving average of $522.14.

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, 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% compared to the same quarter last year. During the same quarter last year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio is currently 24.10%.

Analyst Ratings Changes

GEV has been the topic of a number of research analyst reports. Susquehanna increased their price target on GE Vernova from $736.00 to $740.00 and gave the stock a “positive” rating in a research report on Monday, October 13th. Jefferies Financial Group boosted their price objective on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Finally, Morgan Stanley upped their price target on shares of GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a research report on Thursday. Four 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 assigned a Sell rating to the company. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $592.61.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.