Forvis Mazars Wealth Advisors LLC Increases Holdings in GE Vernova Inc. $GEV

Forvis Mazars Wealth Advisors LLC grew its holdings in GE Vernova Inc. (NYSE:GEV) by 2.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,493 shares of the company’s stock after acquiring an additional 78 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in GE Vernova were worth $1,848,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. AQR Capital Management LLC raised its holdings in shares of GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Amundi increased its position in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after purchasing an additional 868,927 shares during the period. Assenagon Asset Management S.A. increased its position in GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares during the period. TD Asset Management Inc raised its holdings in GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of GE Vernova in the 1st quarter worth about $223,556,000.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 0.4%

Shares of GEV opened at $599.62 on Monday. The stock has a market cap of $163.23 billion, a P/E ratio of 144.49, a P/E/G ratio of 4.34 and a beta of 1.72. The business’s 50 day moving average price is $616.42 and its 200-day moving average price is $522.14. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GEV shares. TD Cowen boosted their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Mizuho lifted their price objective on GE Vernova from $670.00 to $677.00 and gave the company a “neutral” rating in a research report on Wednesday. Robert W. Baird upped their target price on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. 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 report on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $592.61.

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.