Cornerstone Wealth Group LLC Has $699,000 Holdings in GE Vernova Inc. $GEV

Cornerstone Wealth Group LLC grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 11.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,320 shares of the company’s stock after purchasing an additional 138 shares during the period. Cornerstone Wealth Group LLC’s holdings in GE Vernova were worth $699,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. NorthRock Partners LLC boosted its position in shares of GE Vernova by 12.3% during the 2nd quarter. NorthRock Partners LLC now owns 4,799 shares of the company’s stock worth $2,539,000 after acquiring an additional 525 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of GE Vernova by 19.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,587 shares of the company’s stock worth $2,956,000 after acquiring an additional 927 shares in the last quarter. Wealth Architects LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $262,000. Concord Wealth Partners boosted its position in shares of GE Vernova by 75.2% during the 2nd quarter. Concord Wealth Partners now owns 289 shares of the company’s stock worth $153,000 after acquiring an additional 124 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of GE Vernova by 6.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 24,846 shares of the company’s stock worth $13,147,000 after acquiring an additional 1,498 shares in the last quarter.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America increased their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Melius Research set a $740.00 target price on shares of GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. raised their target price on shares of GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Robert W. Baird raised their target price on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, Mizuho lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 target price on the stock. in a research report on Monday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $598.65.

GE Vernova Stock Performance

GEV stock opened at $644.54 on Wednesday. The company has a fifty day moving average price of $619.21 and a 200-day moving average price of $514.56. The company has a market capitalization of $175.46 billion, a P/E ratio of 155.31, a PEG ratio of 4.69 and a beta of 1.72. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 3.16% and a return on equity of 13.23%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

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

GE Vernova Company 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.