Shell Asset Management Co. Buys 3,743 Shares of GE Vernova Inc. $GEV

Shell Asset Management Co. raised its holdings in GE Vernova Inc. (NYSE:GEV) by 118.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,894 shares of the company’s stock after buying an additional 3,743 shares during the quarter. Shell Asset Management Co.’s holdings in GE Vernova were worth $3,648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Highline Wealth Partners LLC increased its holdings 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 buying an additional 18 shares during the period. Raleigh Capital Management Inc. bought a new stake in GE Vernova in the 2nd quarter valued at $37,000. IMA Advisory Services Inc. bought a new stake in GE Vernova in the 1st quarter valued at $27,000. EQ Wealth Advisors LLC bought a new stake in GE Vernova in the 1st quarter valued at $27,000. Finally, West Branch Capital LLC increased its holdings in GE Vernova by 25.6% in the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after buying an additional 20 shares during the period.

GE Vernova Stock Up 0.5%

Shares of NYSE GEV opened at $606.24 on Wednesday. The firm’s 50-day simple moving average is $621.76 and its 200 day simple moving average is $503.77. The company has a market cap of $165.03 billion, a price-to-earnings ratio of 146.08, a price-to-earnings-growth ratio of 4.39 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

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 the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm’s quarterly revenue 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. On average, 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. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 24.10%.

Insider Transactions at GE Vernova

In related 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 $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Citigroup upped their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. HSBC upped their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Bank of America upped their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $598.50.

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.