Bowen Hanes & Co. Inc. Acquires 7,815 Shares of GE Vernova Inc. $GEV

Bowen Hanes & Co. Inc. increased its holdings in GE Vernova Inc. (NYSE:GEV) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,718 shares of the company’s stock after purchasing an additional 7,815 shares during the period. GE Vernova makes up 2.5% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 11th biggest holding. Bowen Hanes & Co. Inc. owned 0.07% of GE Vernova worth $97,744,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sachetta LLC boosted its stake in shares of GE Vernova by 10.7% during the 2nd quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after acquiring an additional 16 shares in the last quarter. Good Life Advisors LLC lifted its holdings in GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after purchasing an additional 16 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in GE Vernova by 6.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after purchasing an additional 16 shares during the last quarter. AMG National Trust Bank boosted its position in GE Vernova by 1.5% during the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after purchasing an additional 17 shares during the period. Finally, Highline Wealth Partners LLC grew its holdings in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Morgan Stanley boosted their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a report on Monday, September 15th. Wells Fargo & Company lifted their price objective on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Citigroup cut their price objective on 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 equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

GE Vernova Trading Down 0.4%

Shares of GEV stock opened at $555.98 on Friday. The stock has a 50 day moving average of $595.52 and a two-hundred day moving average of $562.34. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company has a market capitalization of $150.85 billion, a P/E ratio of 90.55, a P/E/G ratio of 4.15 and a beta of 1.68.

GE Vernova (NYSE:GEV) last released its quarterly earnings data 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 firm 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 business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were paid a $0.25 dividend. 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 is currently 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.