Principle Wealth Partners LLC Buys 134 Shares of GE Vernova Inc. $GEV

Principle Wealth Partners LLC boosted its stake in GE Vernova Inc. (NYSE:GEV) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,139 shares of the company’s stock after acquiring an additional 134 shares during the quarter. Principle Wealth Partners LLC’s holdings in GE Vernova were worth $1,132,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its position in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in GE Vernova in the 2nd quarter valued at $37,000. Advantage Trust Co bought a new stake in GE Vernova during the 2nd quarter worth about $40,000. IMA Advisory Services Inc. bought a new stake in GE Vernova during the 1st quarter worth about $27,000. Finally, West Branch Capital LLC lifted its position in GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company’s stock worth $52,000 after buying an additional 20 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Glj Research boosted their price target on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. 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. BMO Capital Markets boosted their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $600.81.

GE Vernova Stock Performance

Shares of GEV stock opened at $575.73 on Thursday. The firm’s 50-day moving average is $612.65 and its 200-day moving average is $525.17. The stock has a market cap of $156.72 billion, a price-to-earnings ratio of 138.73, a PEG ratio of 4.24 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 issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal 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 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio is currently 24.10%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

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.