Beacon Harbor Wealth Advisors Inc. Invests $223,000 in GE Vernova Inc. $GEV

Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 422 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after acquiring an additional 432,830 shares during the period. Geode Capital Management LLC increased its position in GE Vernova by 2.2% during the second quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares during the period. Goldman Sachs Group Inc. raised its stake in GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after purchasing an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in GE Vernova by 21.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after purchasing an additional 367,150 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in GE Vernova by 50.9% in the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after purchasing an additional 684,794 shares during the period.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on GEV shares. Morgan Stanley boosted their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Royal Bank Of Canada upped their price target on GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Glj Research raised their price objective on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Mizuho decreased their price objective on GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Four equities 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Trading Up 3.5%

NYSE GEV opened at $577.64 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a market capitalization of $156.72 billion, a price-to-earnings ratio of 94.08, a PEG ratio of 4.15 and a beta of 1.68. The stock’s 50 day moving average is $600.86 and its two-hundred day moving average is $555.94.

GE Vernova (NYSE:GEV) last issued its 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). The company had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

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.