Welch Group LLC Takes Position in GE Vernova Inc. $GEV

Welch Group LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 390 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds also recently made changes to their positions in the company. EQ Wealth Advisors LLC acquired a new stake in GE Vernova during the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. acquired a new stake in GE Vernova during the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in 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 in the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova in the 1st quarter worth approximately $33,000.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Seaport Res Ptn upgraded shares of GE Vernova to a “strong-buy” rating in a research report on Thursday, July 10th. HSBC boosted their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research report on Monday, September 15th. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Bank of America lifted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $598.65.

GE Vernova Stock Up 7.1%

NYSE:GEV opened at $647.23 on Tuesday. The firm has a market capitalization of $176.19 billion, a P/E ratio of 155.96, a P/E/G ratio of 4.38 and a beta of 1.72. The company has a fifty day moving average of $619.32 and a 200-day moving average of $513.65. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29.

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

GE Vernova Announces Dividend

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

Insider Buying and Selling

In other GE Vernova 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 completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, 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.