WCM Investment Management LLC Purchases 29,686 Shares of GE Vernova Inc. $GEV

WCM Investment Management LLC raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 659,451 shares of the company’s stock after purchasing an additional 29,686 shares during the period. WCM Investment Management LLC owned 0.24% of GE Vernova worth $342,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by company insiders.

GE Vernova Trading Down 4.1%

Shares of NYSE GEV opened at $617.78 on Thursday. The stock has a market capitalization of $168.17 billion, a PE ratio of 148.86, a price-to-earnings-growth ratio of 4.67 and a beta of 1.72. The stock’s fifty day simple moving average is $618.29 and its two-hundred day simple moving average is $515.27. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV) last announced its 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 business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of analyst reports. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. HSBC upped their target price on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Finally, Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $592.07.

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.