Vest Financial LLC Invests $11.16 Million in GE Vernova Inc. $GEV

Vest Financial LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,097 shares of the company’s stock, valued at approximately $11,163,000.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings 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 worth $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after buying 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 shares of GE Vernova by 21.4% in the first 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 buying an additional 367,150 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after buying an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after buying an additional 622,730 shares during the last quarter.

Insider Activity at GE Vernova

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 value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $647.23 on Tuesday. 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 $176.19 billion, a P/E ratio of 155.96, a P/E/G ratio of 4.38 and a beta of 1.72. The firm’s 50 day simple moving average is $619.32 and its two-hundred day simple moving average is $513.65.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is 24.10%.

Analyst Ratings Changes

A number of research firms recently issued reports on GEV. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. UBS Group began coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Royal Bank Of Canada set a $605.00 price target on shares of GE Vernova and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Finally, Morgan Stanley lifted their price target on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $598.65.

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.