Johnson Investment Counsel Inc. Boosts Position in GE Vernova Inc. $GEV

Johnson Investment Counsel Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,346 shares of the company’s stock after acquiring an additional 584 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in GE Vernova were worth $10,237,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. waypoint wealth counsel bought a new stake in GE Vernova during the second quarter valued at about $438,000. 1858 Wealth Management LLC grew its holdings in GE Vernova by 4.0% during the second quarter. 1858 Wealth Management LLC now owns 9,538 shares of the company’s stock valued at $5,047,000 after purchasing an additional 368 shares during the period. Apollon Wealth Management LLC grew its holdings in GE Vernova by 17.8% during the second quarter. Apollon Wealth Management LLC now owns 30,457 shares of the company’s stock valued at $16,116,000 after purchasing an additional 4,609 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in GE Vernova by 19.2% during the second quarter. Fifth Third Wealth Advisors LLC now owns 15,967 shares of the company’s stock valued at $8,449,000 after purchasing an additional 2,572 shares during the period. Finally, Natural Investments LLC bought a new stake in GE Vernova during the second quarter valued at about $403,000.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Susquehanna boosted their price target on GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Melius Research set a $740.00 price target on GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They set a “buy” rating and a $614.00 price target for the company. Citigroup boosted their price target on GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Four investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred 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 directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 4.4%

NYSE GEV opened at $606.30 on Monday. The firm has a market cap of $165.05 billion, a price-to-earnings ratio of 146.10, a price-to-earnings-growth ratio of 4.38 and a beta of 1.72. The business has a 50-day moving average price of $619.64 and a 200-day moving average price of $511.24. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 quarter in the prior year, the company posted $4.65 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid 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 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.