422 Shares in GE Vernova Inc. $GEV Acquired by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC acquired a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 422 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after acquiring an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $634,984,000 after acquiring an additional 367,150 shares during the last quarter. Wellington Management Group LLP raised 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 worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after acquiring an additional 622,730 shares during the last quarter.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by insiders.

GE Vernova Price Performance

Shares of GEV stock opened at $606.30 on Monday. 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 $619.64 and a 200-day moving average price of $511.24. The company has a market cap of $165.05 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 4.38 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given 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 payout ratio is presently 24.10%.

Analyst Ratings Changes

GEV has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Bank of America boosted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Glj Research assumed coverage on shares of GE Vernova in a research report on Monday, June 23rd. They issued a “buy” rating for the company. TD Cowen lifted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

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.