Archford Capital Strategies LLC Buys New Shares in GE Vernova Inc. $GEV

Archford Capital Strategies LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, HoldingsChannel.com reports. The firm acquired 1,651 shares of the company’s stock, valued at approximately $874,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Covenant Asset Management LLC boosted its position in GE Vernova by 76.9% during the second quarter. Covenant Asset Management LLC now owns 16,342 shares of the company’s stock worth $8,647,000 after purchasing an additional 7,106 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in shares of GE Vernova during the second quarter worth $295,000. Moss Adams Wealth Advisors LLC lifted its holdings in shares of GE Vernova by 34.0% during the second quarter. Moss Adams Wealth Advisors LLC now owns 902 shares of the company’s stock worth $477,000 after buying an additional 229 shares in the last quarter. GC Wealth Management RIA LLC acquired a new stake in shares of GE Vernova during the second quarter worth $1,004,000. Finally, V Square Quantitative Management LLC raised its stake in GE Vernova by 545.5% in the second quarter. V Square Quantitative Management LLC now owns 4,118 shares of the company’s stock valued at $2,179,000 after purchasing an additional 3,480 shares in the last quarter.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $600.66 on Tuesday. The company has a market capitalization of $163.51 billion, a PE ratio of 144.74, a price-to-earnings-growth ratio of 4.41 and a beta of 1.88. The business has a fifty day moving average price of $623.69 and a two-hundred day moving average price of $493.48. GE Vernova Inc. has a 1 year low of $248.50 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 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 in the prior year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company 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 is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Barclays lifted their target price on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. BMO Capital Markets upped their target price on GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Glj Research assumed coverage on GE Vernova in a report on Monday, June 23rd. They issued a “buy” rating on the stock. Bank of America boosted their price target 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, Wells Fargo & Company upped their target price on GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and an average price target of $592.35.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

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.