Key Financial Inc Has $515,000 Position in GE Vernova Inc. $GEV

Key Financial Inc grew its holdings in GE Vernova Inc. (NYSE:GEV) by 47.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 974 shares of the company’s stock after acquiring an additional 314 shares during the quarter. Key Financial Inc’s holdings in GE Vernova were worth $515,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Next Capital Management LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $269,000. Connable Office Inc. acquired a new stake in shares of GE Vernova in the second quarter valued at about $400,000. Obermeyer Wealth Partners acquired a new stake in shares of GE Vernova in the second quarter valued at about $223,000. Bridgewater Advisors Inc. grew its position in shares of GE Vernova by 7.9% in the second quarter. Bridgewater Advisors Inc. now owns 1,129 shares of the company’s stock valued at $597,000 after purchasing an additional 83 shares during the last quarter. Finally, Peregrine Asset Advisers Inc. grew its position in GE Vernova by 6.8% during the second quarter. Peregrine Asset Advisers Inc. now owns 787 shares of the company’s stock worth $416,000 after buying an additional 50 shares in the last quarter.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Down 0.3%

Shares of GEV opened at $583.13 on Tuesday. The stock has a market cap of $158.22 billion, a price-to-earnings ratio of 94.97, a P/E/G ratio of 4.35 and a beta of 1.69. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company has a 50-day moving average price of $607.92 and a two-hundred day moving average price of $544.77.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GEV shares. BMO Capital Markets lifted their target price on GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Jefferies Financial Group reissued a “hold” rating and set a $654.00 target price on shares of GE Vernova in a research report on Monday, October 27th. Melius Research set a $740.00 target price on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. Morgan Stanley lifted their target price on GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Citigroup decreased their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Four 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus 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.