Spire Wealth Management Boosts Stake in GE Vernova Inc. $GEV

Spire Wealth Management raised its position in GE Vernova Inc. (NYSE:GEV) by 22.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,519 shares of the company’s stock after purchasing an additional 839 shares during the quarter. Spire Wealth Management’s holdings in GE Vernova were worth $2,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the first quarter valued at approximately $27,000. WFA Asset Management Corp purchased a new position in GE Vernova in the second quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC increased its holdings in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 53 shares during the last quarter. 1248 Management LLC purchased a new position in GE Vernova in the first quarter valued at $31,000. Finally, Saudi Central Bank acquired a new position in GE Vernova in the first quarter valued at $33,000.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction 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 directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Glj Research lifted their price target on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Mizuho reduced their price target on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Finally, Robert W. Baird increased their target price on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Trading Down 0.5%

Shares of GEV opened at $574.80 on Friday. The firm has a market capitalization of $155.96 billion, a P/E ratio of 93.62, a price-to-earnings-growth ratio of 4.28 and a beta of 1.72. The stock’s fifty day simple moving average is $608.71 and its 200 day simple moving average is $538.14. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month 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 for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio is 16.29%.

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.