WNY Asset Management LLC Invests $387,000 in GE Vernova Inc. $GEV

WNY Asset Management LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 731 shares of the company’s stock, valued at approximately $387,000.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in GE Vernova in the 1st quarter valued at $912,000. Pines Wealth Management LLC purchased a new stake in GE Vernova in the 2nd quarter valued at $408,000. Resona Asset Management Co. Ltd. grew its holdings in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after buying an additional 6,551 shares in the last quarter. Dupree Financial Group LLC purchased a new stake in GE Vernova in the 2nd quarter valued at $253,000. Finally, Lockheed Martin Investment Management Co. purchased a new stake in GE Vernova in the 1st quarter valued at $458,000.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova Trading Up 1.1%

NYSE GEV opened at $577.44 on Thursday. The stock has a fifty day simple moving average of $609.33 and a 200-day simple moving average of $537.88. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock has a market cap of $156.67 billion, a PE ratio of 94.05, a P/E/G ratio of 4.12 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) 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 firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the company posted ($0.35) EPS. GE Vernova’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid 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 yield of 0.2%. GE Vernova’s dividend payout ratio is presently 16.29%.

Analysts Set New Price Targets

Several brokerages have issued reports on GEV. HSBC upped their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. UBS Group set a $710.00 target price on GE Vernova in a report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Citigroup lowered their price target on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Finally, Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a report on Monday, September 15th. Four 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 stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus price target of $607.07.

About GE Vernova

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.