756 Shares in GE Vernova Inc. $GEV Purchased by Connable Office Inc.

Connable Office Inc. acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 756 shares of the company’s stock, valued at approximately $400,000.

A number of other institutional investors and hedge funds also recently modified their holdings of GEV. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the 1st quarter worth $27,000. WFA Asset Management Corp acquired a new stake in shares of GE Vernova during the 2nd quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 53 shares during the last quarter. 1248 Management LLC acquired a new stake in GE Vernova during the first quarter worth about $31,000. Finally, Saudi Central Bank acquired a new stake in GE Vernova during the first quarter worth about $33,000.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GEV shares. TD Cowen lowered their target price on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Wells Fargo & Company increased their target price on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Glj Research increased their target price on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. BMO Capital Markets raised their price target on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, Melius Research set a $740.00 price target on GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $583.13 on Tuesday. The business’s fifty day moving average price is $607.92 and its two-hundred day moving average price is $544.77. The company has a market capitalization of $158.22 billion, a P/E ratio of 94.97, a PEG ratio of 4.35 and a beta of 1.69. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV) last announced its earnings results 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). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts expect 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. Stockholders of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date 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 16.29%.

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.