OneAscent Wealth Management LLC Invests $300,000 in GE Vernova Inc. $GEV

OneAscent Wealth Management LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 567 shares of the company’s stock, valued at approximately $300,000.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in GE Vernova during the 1st quarter valued at about $912,000. Pines Wealth Management LLC purchased a new position in shares of GE Vernova during the second quarter valued at approximately $408,000. Resona Asset Management Co. Ltd. lifted its position in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC bought a new position in GE Vernova during the second quarter valued at approximately $253,000. Finally, Lockheed Martin Investment Management Co. purchased a new stake in GE Vernova in the first quarter worth approximately $458,000.

Insider Transactions at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

GE Vernova Price Performance

Shares of NYSE GEV opened at $549.81 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The firm has a fifty day moving average price of $603.35 and a 200-day moving average price of $546.47. The stock has a market cap of $149.17 billion, a PE ratio of 89.55, a price-to-earnings-growth ratio of 4.16 and a beta of 1.68.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted ($0.35) EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm 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. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio is presently 16.29%.

Wall Street Analyst Weigh In

GEV has been the topic of several research analyst reports. Robert W. Baird increased their price target on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. BMO Capital Markets boosted their price target on GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Jefferies Financial Group reiterated a “hold” rating and issued a $654.00 price objective on shares of GE Vernova in a research note on Monday, October 27th. Finally, Citigroup cut their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $607.81.

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.