Welch Group LLC Invests $206,000 in GE Vernova Inc. $GEV

Welch Group LLC 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. The firm bought 390 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GE Vernova during the 1st quarter worth about $912,000. Pines Wealth Management LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth about $408,000. Resona Asset Management Co. Ltd. lifted its stake in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after buying an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of GE Vernova during the 1st quarter worth about $458,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of GE Vernova by 201.7% during the 1st 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 Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

GE Vernova Stock Up 7.1%

GEV stock opened at $647.23 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The firm has a market cap of $176.19 billion, a P/E ratio of 155.96, a P/E/G ratio of 4.38 and a beta of 1.72. The company’s 50-day moving average price is $619.32 and its two-hundred day moving average price is $513.65.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating 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 firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the firm earned $4.65 EPS. 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. Equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $605.00 price target on shares of GE Vernova and gave the stock a “sector perform” rating in a research report on Wednesday, October 1st. BMO Capital Markets raised their price target on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Citigroup raised their price target on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $598.65.

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.