Peak Financial Management Inc. Has $287,000 Stock Position in GE Vernova Inc. $GEV

Peak Financial Management Inc. trimmed its position in GE Vernova Inc. (NYSE:GEV) by 39.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 542 shares of the company’s stock after selling 350 shares during the quarter. Peak Financial Management Inc.’s holdings in GE Vernova were worth $287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the first quarter worth about $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC grew its position in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 53 shares during the period. 1248 Management LLC acquired a new position in shares of GE Vernova during the 1st quarter worth about $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova during the 1st quarter worth about $33,000.

GE Vernova Price Performance

NYSE:GEV opened at $625.47 on Thursday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a market capitalization of $170.27 billion, a PE ratio of 150.72, a price-to-earnings-growth ratio of 4.41 and a beta of 1.72. The business’s 50-day simple moving average is $621.18 and its 200-day simple moving average is $504.60.

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

GE Vernova Dividend Announcement

The firm 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. The ex-dividend date is 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 24.10%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their target price on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Robert W. Baird boosted their target price on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. HSBC boosted their target price on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Finally, Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $598.50.

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.