Hedges Asset Management LLC Sells 3,325 Shares of GE Vernova Inc. $GEV

Hedges Asset Management LLC reduced its position in shares of GE Vernova Inc. (NYSE:GEV) by 64.9% in the second quarter, HoldingsChannel reports. The firm owned 1,800 shares of the company’s stock after selling 3,325 shares during the quarter. Hedges Asset Management LLC’s holdings in GE Vernova were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova during the 1st quarter valued at about $27,000. Orion Capital Management LLC purchased a new position in GE Vernova in the 4th quarter worth approximately $30,000. EQ Wealth Advisors LLC purchased a new position in GE Vernova in the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC increased 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 worth $30,000 after acquiring an additional 53 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in GE Vernova in the 1st quarter worth approximately $31,000.

Insider Activity

In other 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 transaction 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. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

GE Vernova Trading Down 1.3%

GEV opened at $625.99 on Friday. GE Vernova Inc. has a 12-month low of $219.01 and a 12-month high of $677.29. The business’s fifty day simple moving average is $608.65 and its 200-day simple moving average is $468.10. The company has a market capitalization of $170.41 billion, a price-to-earnings ratio of 150.84, a PEG ratio of 4.38 and a beta of 1.87.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of research reports. Robert W. Baird lifted their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Royal Bank Of Canada reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, July 24th. Wolfe Research downgraded GE Vernova from an “outperform” rating to a “peer perform” rating in a research report on Friday, June 13th. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Finally, Citigroup boosted their target price on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $580.04.

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.