Intrua Financial LLC Buys Shares of 469 GE Vernova Inc. $GEV

Intrua Financial LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 469 shares of the company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC raised its position in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after buying an additional 753 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of GE Vernova by 55.5% during the 1st quarter. Victory Capital Management Inc. now owns 145,392 shares of the company’s stock valued at $44,385,000 after acquiring an additional 51,913 shares during the last quarter. Bailard Inc. bought a new stake in shares of GE Vernova in the first quarter worth approximately $339,000. Kingsview Wealth Management LLC raised its holdings in shares of GE Vernova by 7.5% during the first quarter. Kingsview Wealth Management LLC now owns 8,064 shares of the company’s stock valued at $2,462,000 after purchasing an additional 562 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in GE Vernova by 5.3% during the first quarter. Jennison Associates LLC now owns 38,260 shares of the company’s stock valued at $11,680,000 after purchasing an additional 1,933 shares during the period.

GE Vernova Stock Up 3.5%

Shares of GEV opened at $577.64 on Friday. The business has a 50-day simple moving average of $600.86 and a two-hundred day simple moving average of $557.24. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The stock has a market cap of $156.72 billion, a price-to-earnings ratio of 94.08, a PEG ratio of 4.30 and a beta of 1.68.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 is Monday, October 20th. GE Vernova’s dividend payout ratio is presently 16.29%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the 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. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GEV has been the subject of a number of research analyst reports. 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 research report on Thursday, July 24th. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Redburn Partners set a $475.00 price objective on GE Vernova in a research report on Wednesday, October 15th. Barclays raised their target price on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova 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.