Princeton Global Asset Management LLC Raises Holdings in GE Vernova Inc. $GEV

Princeton Global Asset Management LLC boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 14.4% in the second quarter, Holdings Channel reports. The institutional investor owned 151 shares of the company’s stock after acquiring an additional 19 shares during the period. Princeton Global Asset Management LLC’s holdings in GE Vernova were worth $80,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Highline Wealth Partners LLC lifted its stake in shares of GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after purchasing an additional 18 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in GE Vernova in the second quarter valued at about $37,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the first quarter worth about $27,000. EQ Wealth Advisors LLC purchased a new stake in shares of GE Vernova during the first quarter valued at about $27,000. Finally, West Branch Capital LLC boosted its holdings in shares of 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 in the last quarter.

GE Vernova Trading Down 0.9%

NYSE:GEV opened at $594.46 on Tuesday. The company has a market capitalization of $161.82 billion, a P/E ratio of 143.24, a PEG ratio of 4.34 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. The firm has a fifty day simple moving average of $615.29 and a 200-day simple moving average of $524.40.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.78 billion. During the same period in the prior year, the firm earned $4.65 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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 paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 7,590 shares in the company, valued at $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 available at this hyperlink. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. Robert W. Baird lifted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Wells Fargo & Company increased their price objective on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Finally, Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $601.44.

GE Vernova Profile

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.