Cypress Capital Group Buys Shares of 457 GE Vernova Inc. $GEV

Cypress Capital Group purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 457 shares of the company’s stock, valued at approximately $242,000.

Several other institutional investors have also made changes to their positions in GEV. Caitong International Asset Management Co. Ltd bought a new position in GE Vernova during the first quarter valued at approximately $912,000. Pines Wealth Management LLC bought a new position in shares of GE Vernova during the 2nd quarter valued at $408,000. Resona Asset Management Co. Ltd. lifted its stake in shares of GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in GE Vernova in the first quarter worth $458,000. Finally, Golden State Wealth Management LLC increased its position 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 worth $373,000 after buying an additional 817 shares during the last quarter.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value 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 $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. JPMorgan Chase & Co. upped their target price on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Finally, HSBC raised their target price on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $598.65.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $647.23 on Tuesday. The company has a market cap of $176.19 billion, a PE ratio of 155.96, a price-to-earnings-growth ratio of 4.38 and a beta of 1.72. The firm has a fifty day moving average price of $619.32 and a two-hundred day moving average price of $513.65. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter in the prior year, the business earned $4.65 earnings per share. The firm’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. Analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 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.