NorthRock Partners LLC Boosts Stock Position in GE Vernova Inc. $GEV

NorthRock Partners LLC grew its stake in GE Vernova Inc. (NYSE:GEV) by 12.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,799 shares of the company’s stock after purchasing an additional 525 shares during the period. NorthRock Partners LLC’s holdings in GE Vernova were worth $2,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its holdings in GE Vernova by 19.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,587 shares of the company’s stock valued at $2,956,000 after acquiring an additional 927 shares during the last quarter. Wealth Architects LLC purchased a new stake in shares of GE Vernova during the second quarter worth $262,000. Concord Wealth Partners increased its holdings in GE Vernova by 75.2% in the second quarter. Concord Wealth Partners now owns 289 shares of the company’s stock valued at $153,000 after buying an additional 124 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in GE Vernova by 6.4% in the second quarter. Sequoia Financial Advisors LLC now owns 24,846 shares of the company’s stock valued at $13,147,000 after buying an additional 1,498 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. increased its holdings in GE Vernova by 35.6% in the second quarter. Total Clarity Wealth Management Inc. now owns 846 shares of the company’s stock valued at $448,000 after buying an additional 222 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on GEV shares. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research report on Monday, September 15th. BMO Capital Markets increased their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. UBS Group assumed coverage on shares of GE Vernova in a research note on Monday, July 7th. They set a “buy” rating and a $614.00 price objective for the company. Finally, TD Cowen lifted their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

GE Vernova Stock Performance

GEV opened at $606.30 on Monday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company has a 50-day moving average of $619.64 and a 200-day moving average of $511.24. The company has a market capitalization of $165.05 billion, a P/E ratio of 146.10, a PEG ratio of 4.38 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping 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 firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter in the prior year, the firm earned $4.65 EPS. GE Vernova’s quarterly revenue was up 11.1% on a year-over-year basis. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio is 24.10%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s 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 completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

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.