Syntegra Private Wealth Group LLC Invests $253,000 in GE Vernova Inc. $GEV

Syntegra Private Wealth Group LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, Holdings Channel reports. The fund purchased 479 shares of the company’s stock, valued at approximately $253,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after acquiring an additional 367,150 shares in the last quarter. Wellington Management Group LLP grew its position in GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in GE Vernova by 47.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares in the last quarter.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GEV. TD Cowen increased their target price on GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, July 25th. HSBC raised their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a report on Friday, September 5th. Mizuho boosted their target price on shares of GE Vernova from $670.00 to $677.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Bank of America upped their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $601.44.

GE Vernova Price Performance

NYSE GEV opened at $594.46 on Tuesday. The stock has a market capitalization of $161.82 billion, a P/E ratio of 143.24, a P/E/G ratio of 4.34 and a beta of 1.72. The business has a 50 day simple moving average of $615.29 and a 200 day simple moving average of $524.40. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The firm 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 company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. 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 dividend payout ratio (DPR) is presently 24.10%.

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.