Exchange Capital Management Inc. Takes $335,000 Position in GE Vernova Inc. $GEV

Exchange Capital Management Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 633 shares of the company’s stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GEV. EQ Wealth Advisors LLC bought a new position in GE Vernova during the first quarter valued at approximately $27,000. IMA Advisory Services Inc. purchased a new stake in shares of GE Vernova during the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 53 shares in the last quarter. 1248 Management LLC bought a new position in shares of GE Vernova during the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank purchased a new position in shares of GE Vernova in the first quarter valued at $33,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Barclays boosted their target price on shares of GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Morgan Stanley upped their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. TD Cowen increased their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s 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 owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $595.07 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The business has a 50 day simple moving average of $623.21 and a two-hundred day simple moving average of $498.89. The firm has a market capitalization of $161.99 billion, a PE ratio of 143.39, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued 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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the company earned $4.65 EPS. GE Vernova’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

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.