Cardinal Point Capital Management ULC Takes Position in GE Vernova Inc. $GEV

Cardinal Point Capital Management ULC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,623 shares of the company’s stock, valued at approximately $859,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. WFA Asset Management Corp acquired a new position in shares of GE Vernova during the second quarter worth about $29,000. Highline Wealth Partners LLC grew its position in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after buying an additional 18 shares during the period. Raleigh Capital Management Inc. purchased a new position in shares of GE Vernova in the second quarter worth approximately $37,000. Advantage Trust Co acquired a new stake in shares of GE Vernova in the second quarter worth $40,000. Finally, IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the 1st quarter worth approximately $27,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research report on Thursday. BMO Capital Markets lifted their price objective on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research note on Thursday. Redburn Partners set a $475.00 price objective on GE Vernova in a research note on Wednesday, October 15th. Finally, Robert W. Baird increased their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.48.

GE Vernova Trading Up 3.2%

Shares of GE Vernova stock opened at $594.45 on Friday. The stock has a fifty day simple moving average of $612.04 and a 200 day simple moving average of $527.31. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The company has a market capitalization of $161.82 billion, a P/E ratio of 96.82, a price-to-earnings-growth ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the firm posted ($0.35) EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of the sale, the chief financial officer 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 filing with the SEC, which can be accessed through the SEC website. Company 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.