Waratah Capital Advisors Ltd. Takes Position in GE Vernova Inc. $GEV

Waratah Capital Advisors Ltd. bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel reports. The fund bought 3,948 shares of the company’s stock, valued at approximately $2,089,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GEV. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. WFA Asset Management Corp purchased a new stake in shares of GE Vernova during the second quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after purchasing an additional 53 shares during the last quarter. 1248 Management LLC purchased a new position in GE Vernova in the 1st quarter valued at $31,000. Finally, Saudi Central Bank acquired a new stake in GE Vernova during the 1st quarter worth $33,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. Royal Bank Of Canada increased their target price on shares of GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Morgan Stanley increased their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. HSBC boosted their target price on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Finally, Cowen reaffirmed a “buy” rating on shares of GE Vernova in a 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 issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

GE Vernova Price Performance

Shares of GEV opened at $577.64 on Friday. The firm has a 50-day simple moving average of $600.86 and a two-hundred day simple moving average of $557.24. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The stock has a market cap of $156.72 billion, a PE ratio of 94.08, a P/E/G ratio of 4.30 and a beta of 1.68.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the company posted ($0.35) EPS. The firm’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. As a group, sell-side analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

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.