GE Vernova Inc. $GEV Shares Sold by Ascent Group LLC

Ascent Group LLC lowered its position in shares of GE Vernova Inc. (NYSE:GEV) by 16.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,061 shares of the company’s stock after selling 790 shares during the period. Ascent Group LLC’s holdings in GE Vernova were worth $2,149,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Clarity Capital Partners LLC increased its holdings in shares of GE Vernova by 33.3% during the 2nd quarter. Clarity Capital Partners LLC now owns 901 shares of the company’s stock worth $477,000 after buying an additional 225 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of GE Vernova by 15.8% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,982 shares of the company’s stock worth $2,107,000 after purchasing an additional 542 shares during the period. DHJJ Financial Advisors Ltd. boosted its position in shares of GE Vernova by 35.4% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 134 shares of the company’s stock worth $71,000 after purchasing an additional 35 shares during the period. Sterling Investment Counsel LLC purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $291,000. Finally, Yeomans Consulting Group Inc. purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $470,000.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GEV shares. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the stock a “sector perform” rating in a research report on Wednesday. Seaport Res Ptn raised shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research report on Saturday, September 27th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Finally, HSBC raised their price target on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Stock Down 1.8%

Shares of GEV stock opened at $595.07 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The stock has a market capitalization of $161.99 billion, a PE ratio of 143.39, a P/E/G ratio of 4.34 and a beta of 1.72. The firm has a 50 day moving average of $623.21 and a two-hundred day moving average of $500.03.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter last year, the company posted $4.65 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a $0.25 dividend. 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 (DPR) is presently 24.10%.

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.