Purus Wealth Management LLC Grows Stake in GE Vernova Inc. $GEV

Purus Wealth Management LLC lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 170.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,192 shares of the company’s stock after acquiring an additional 2,012 shares during the period. Purus Wealth Management LLC’s holdings in GE Vernova were worth $1,689,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in GE Vernova by 1.1% in the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock valued at $13,051,258,000 after acquiring an additional 271,958 shares during the last quarter. Geode Capital Management LLC lifted its position in GE Vernova by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock worth $3,221,404,000 after acquiring an additional 129,315 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after purchasing an additional 214,483 shares during the period. 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 valued at $634,984,000 after acquiring an additional 367,150 shares in the last quarter. Finally, Wellington Management Group LLP boosted 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 valued at $619,703,000 after purchasing an additional 684,794 shares in 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

GE Vernova Stock Down 0.3%

Shares of NYSE GEV opened at $576.48 on Tuesday. The stock has a market capitalization of $156.41 billion, a PE ratio of 93.89, a P/E/G ratio of 4.30 and a beta of 1.69. The firm has a fifty day moving average of $600.40 and a 200-day moving average of $559.92. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.35) earnings per share. 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 fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were paid a $0.25 dividend. The ex-dividend date was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

Wall Street Analyst Weigh In

A number of research firms have commented on GEV. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Wells Fargo & Company increased their price target on shares of GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a report on Friday, October 24th. TD Cowen decreased their price target on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Rothschild & Co Redburn reiterated a “sell” rating and issued a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Finally, HSBC increased their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

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.