Cornell Pochily Investment Advisors Inc. Takes Position in GE Vernova Inc. $GEV

Cornell Pochily Investment Advisors Inc. purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 392 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of GE Vernova during the first quarter valued at approximately $912,000. Pines Wealth Management LLC purchased a new position in GE Vernova during the second quarter valued at approximately $408,000. Resona Asset Management Co. Ltd. increased its holdings in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after buying an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. purchased a new position in GE Vernova during the first quarter valued at approximately $458,000. Finally, Golden State Wealth Management LLC increased its holdings in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after buying an additional 817 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GEV. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a report on Friday, September 12th. Bank of America lifted their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Morgan Stanley lifted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Robert W. Baird lifted their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Trading Up 0.1%

NYSE GEV opened at $606.80 on Friday. The firm’s fifty day simple moving average is $624.20 and its two-hundred day simple moving average is $496.99. GE Vernova Inc. has a 12-month low of $250.89 and a 12-month high of $677.29. The firm has a market capitalization of $165.18 billion, a P/E ratio of 146.22, a P/E/G ratio of 4.42 and a beta of 1.72.

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, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s 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 sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was 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 through this hyperlink. 0.15% of the stock is owned by company insiders.

About GE Vernova

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.