BIP Wealth LLC Buys New Shares in GE Vernova Inc. $GEV

BIP Wealth LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 721 shares of the company’s stock, valued at approximately $382,000.

Several other institutional investors have also recently made changes to their positions in GEV. Brighton Jones LLC increased its holdings in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after acquiring an additional 753 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of GE Vernova by 8.4% in the first quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after purchasing an additional 542 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of GE Vernova during the 1st quarter valued at $328,000. Spire Wealth Management increased its stake in GE Vernova by 23.8% in the 1st quarter. Spire Wealth Management now owns 3,680 shares of the company’s stock worth $1,124,000 after buying an additional 707 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in GE Vernova by 5.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 87,135 shares of the company’s stock valued at $26,601,000 after acquiring an additional 4,255 shares during the period.

Analysts Set New Price Targets

Several research analysts have weighed in on GEV shares. Glj Research upped their price target on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Barclays lifted their price target on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a report on Saturday. Four 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 assigned a Sell rating to the company. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $607.59.

GE Vernova Price Performance

Shares of GEV stock opened at $584.68 on Friday. The company has a market cap of $158.64 billion, a PE ratio of 95.23, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock’s 50 day simple moving average is $611.31 and its two-hundred day simple moving average is $531.04.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the firm posted ($0.35) EPS. The business’s revenue for the quarter was up 11.8% 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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 stock was sold at an average price of $620.00, for a total value 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. 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 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.