GE Vernova Inc. $GEV Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its stake in GE Vernova Inc. (NYSE:GEV) by 29.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,113 shares of the company’s stock after acquiring an additional 7,437 shares during the quarter. Wealthfront Advisers LLC’s holdings in GE Vernova were worth $17,522,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $27,000. WFA Asset Management Corp acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 53 shares during the period. 1248 Management LLC acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $33,000.

GE Vernova Stock Performance

NYSE GEV opened at $584.68 on Monday. The business has a fifty day moving average price of $611.31 and a 200 day moving average price of $532.47. The company has a market cap of $158.64 billion, a P/E ratio of 95.23, a P/E/G ratio of 4.22 and a beta of 1.72. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business 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 is Monday, October 20th. GE Vernova’s dividend payout ratio is presently 16.29%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GEV shares. Wells Fargo & Company upped their target price on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Barclays upped their target price on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup reduced their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Rothschild & Co Redburn reaffirmed a “sell” rating and set a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.59.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’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 sale, the chief financial officer directly 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 through the SEC website. 0.15% of the stock is currently owned by insiders.

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.