Verity Asset Management Inc. Buys Shares of 502 GE Vernova Inc. $GEV

Verity Asset Management Inc. bought a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, Holdings Channel.com reports. The fund bought 502 shares of the company’s stock, valued at approximately $266,000.

Several other large investors have also recently bought and sold shares of the company. Hunter Associates Investment Management LLC increased its stake in GE Vernova by 3.9% in the second quarter. Hunter Associates Investment Management LLC now owns 1,425 shares of the company’s stock valued at $753,000 after purchasing an additional 53 shares in the last quarter. Westside Investment Management Inc. increased its stake in GE Vernova by 18.2% in the second quarter. Westside Investment Management Inc. now owns 416 shares of the company’s stock valued at $219,000 after purchasing an additional 64 shares in the last quarter. Intellectus Partners LLC bought a new stake in GE Vernova in the second quarter valued at approximately $271,000. MMA Asset Management LLC bought a new stake in GE Vernova in the second quarter valued at approximately $288,000. Finally, Capital Management Associates NY increased its stake in GE Vernova by 27.8% in the second quarter. Capital Management Associates NY now owns 2,300 shares of the company’s stock valued at $1,217,000 after purchasing an additional 500 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several recent analyst reports. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Susquehanna increased their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Jefferies Financial Group reissued a “hold” rating and set a $654.00 price objective on shares of GE Vernova in a research report on Monday, October 27th. Mizuho lowered their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Finally, Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Trading Down 0.3%

Shares of GEV opened at $583.13 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The firm has a fifty day simple moving average of $607.92 and a 200 day simple moving average of $544.77. The stock has a market capitalization of $158.22 billion, a price-to-earnings ratio of 94.97, a PEG ratio of 4.35 and a beta of 1.69.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, October 22nd. The company reported $1.64 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 business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter in the previous year, the company posted ($0.35) EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts predict 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. Shareholders 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 dividend payout ratio (DPR) is currently 16.29%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The shares were 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 $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 SEC, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

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.