Financial Gravity Companies Inc. Purchases Shares of 293 GE Vernova Inc. $GEV

Financial Gravity Companies Inc. acquired a new position in GE Vernova Inc. (NYSE:GEV) in the second quarter, Holdings Channel.com reports. The firm acquired 293 shares of the company’s stock, valued at approximately $155,000.

Several other institutional investors have also recently modified their holdings of GEV. Tortoise Investment Management LLC lifted its position in GE Vernova by 100.5% in the 2nd quarter. Tortoise Investment Management LLC now owns 407 shares of the company’s stock worth $215,000 after buying an additional 204 shares during the last quarter. Cornerstone Advisors LLC grew its position in GE Vernova by 0.8% during the second quarter. Cornerstone Advisors LLC now owns 13,200 shares of the company’s stock valued at $6,985,000 after acquiring an additional 100 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of GE Vernova by 38.8% during the second quarter. Citizens Financial Group Inc. RI now owns 4,820 shares of the company’s stock worth $2,551,000 after acquiring an additional 1,347 shares in the last quarter. Cercano Management LLC purchased a new position in shares of GE Vernova during the second quarter worth approximately $32,236,000. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of GE Vernova by 11.6% in the 2nd quarter. Avantax Advisory Services Inc. now owns 9,155 shares of the company’s stock worth $4,844,000 after acquiring an additional 953 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group set a $710.00 target price on shares of GE Vernova in a report on Thursday, October 23rd. 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 report on Friday, October 24th. Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $607.81.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’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 transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Trading Up 3.5%

GEV stock opened at $577.64 on Friday. The stock has a market capitalization of $156.72 billion, a price-to-earnings ratio of 94.08, a PEG ratio of 4.30 and a beta of 1.68. The firm’s 50-day moving average price is $600.86 and its two-hundred day moving average price is $557.24. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV) last posted its 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). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company posted ($0.35) earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

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.