Lyell Wealth Management LP Invests $278,000 in GE Vernova Inc. $GEV

Lyell Wealth Management LP bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel reports. The firm bought 526 shares of the company’s stock, valued at approximately $278,000.

A number of other institutional investors also recently modified their holdings of the company. Northeast Investment Management boosted its holdings in shares of GE Vernova by 560.5% during the second quarter. Northeast Investment Management now owns 7,820 shares of the company’s stock worth $4,138,000 after purchasing an additional 6,636 shares during the period. Calamos Wealth Management LLC boosted its holdings in shares of GE Vernova by 4.9% during the second quarter. Calamos Wealth Management LLC now owns 4,284 shares of the company’s stock worth $2,267,000 after purchasing an additional 199 shares during the period. Cidel Asset Management Inc. purchased a new stake in GE Vernova in the second quarter worth about $291,000. Forvis Mazars Wealth Advisors LLC lifted its holdings in GE Vernova by 2.3% in the second quarter. Forvis Mazars Wealth Advisors LLC now owns 3,493 shares of the company’s stock worth $1,848,000 after buying an additional 78 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its holdings in GE Vernova by 11.2% in the second quarter. Chicago Partners Investment Group LLC now owns 8,535 shares of the company’s stock worth $4,516,000 after buying an additional 860 shares during the period.

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Morgan Stanley raised their price objective on shares of GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna raised their price objective on shares of GE Vernova from $736.00 to $740.00 and gave the stock a “positive” rating in a report on Monday, October 13th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, TD Cowen raised their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $601.44.

GE Vernova Stock Performance

GEV stock opened at $594.46 on Tuesday. The firm has a 50 day moving average price of $615.29 and a 200-day moving average price of $524.40. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The firm has a market capitalization of $161.82 billion, a price-to-earnings ratio of 143.24, a PEG ratio of 4.34 and a beta of 1.72.

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. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the business earned $4.65 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal 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 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 dividend payout ratio (DPR) is 24.10%.

Insider Buying and Selling at GE Vernova

In related 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 transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $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 is available at the SEC website. 0.15% of the stock is owned by company 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.