Signet Investment Advisory Group Inc. Takes Position in GE Vernova Inc. $GEV

Signet Investment Advisory Group Inc. acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 418 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Brighton Jones LLC grew its position in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of GE Vernova in the 1st quarter valued at about $328,000. Allspring Global Investments Holdings LLC grew its position in shares of GE Vernova by 2.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,196 shares of the company’s stock valued at $4,165,000 after acquiring an additional 354 shares during the period. Golden State Wealth Management LLC grew its position in shares of GE Vernova by 201.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after acquiring an additional 817 shares during the period. Finally, Joel Isaacson & Co. LLC boosted its holdings in shares of GE Vernova by 23.1% during the 1st quarter. Joel Isaacson & Co. LLC now owns 1,971 shares of the company’s stock worth $602,000 after buying an additional 370 shares during the period.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’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 transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on GEV shares. Glj Research lifted their target price on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. BMO Capital Markets lifted their target price on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Robert W. Baird lifted their target price 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. TD Cowen reduced their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four 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 stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $607.07.

GE Vernova Stock Up 0.0%

Shares of GE Vernova stock opened at $584.50 on Tuesday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The company has a 50-day simple moving average of $610.51 and a two-hundred day simple moving average of $534.28. The stock has a market capitalization of $158.59 billion, a price-to-earnings ratio of 95.20, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s payout ratio is presently 16.29%.

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.