GE Vernova Inc. $GEV Shares Purchased by Savvy Advisors Inc.

Savvy Advisors Inc. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 28.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,555 shares of the company’s stock after acquiring an additional 571 shares during the quarter. Savvy Advisors Inc.’s holdings in GE Vernova were worth $1,352,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after purchasing an additional 892,549 shares in the last quarter. Amundi increased its stake in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares during the period. Assenagon Asset Management S.A. increased its stake in GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after buying an additional 834,129 shares during the period. TD Asset Management Inc lifted its holdings in GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after buying an additional 799,388 shares in the last quarter. Finally, Nuveen LLC purchased a new position in GE Vernova in the 1st quarter valued at approximately $223,556,000.

GE Vernova Stock Performance

Shares of NYSE GEV opened at $574.80 on Friday. The stock’s 50-day simple moving average is $608.71 and its 200-day simple moving average is $538.14. The firm has a market capitalization of $155.96 billion, a PE ratio of 93.62, a price-to-earnings-growth ratio of 4.28 and a beta of 1.72. 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 results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share 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. Investors of record on Monday, October 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Susquehanna upped their price target on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. TD Cowen reduced their price target on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Finally, Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Company 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.