Portside Wealth Group LLC Buys Shares of 528 GE Vernova Inc. $GEV

Portside Wealth Group LLC acquired a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel reports. The fund acquired 528 shares of the company’s stock, valued at approximately $279,000.

Several other hedge funds have also made changes to their positions in GEV. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the 1st quarter valued at $27,000. WFA Asset Management Corp purchased a new stake in GE Vernova during the second quarter valued at about $29,000. 1248 Management LLC purchased a new stake in shares of GE Vernova in the 1st quarter valued at approximately $31,000. Saudi Central Bank acquired a new stake in shares of GE Vernova during the 1st quarter valued at $33,000. Finally, Ransom Advisory Ltd acquired a new stake in GE Vernova during the first quarter valued at $33,000.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was 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 in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Trading Up 7.4%

Shares of GEV opened at $596.14 on Thursday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock has a market cap of $161.74 billion, a P/E ratio of 97.09, a price-to-earnings-growth ratio of 4.13 and a beta of 1.68. The stock’s 50-day moving average price is $598.44 and its two-hundred day moving average price is $561.28.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were issued a dividend of $0.25 per share. The ex-dividend date was 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%.

Analysts Set New Price Targets

Several analysts have recently issued reports on GEV shares. Cowen reiterated a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Wells Fargo & Company boosted their target price on shares of GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Robert W. Baird boosted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Mizuho cut their price target on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Finally, Susquehanna upped their target price on shares of GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Company 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.