Lumbard & Kellner LLC Buys Shares of 517 GE Vernova Inc. $GEV

Lumbard & Kellner LLC purchased a new position in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 517 shares of the company’s stock, valued at approximately $274,000.

A number of other institutional investors also recently added to or reduced their stakes in GEV. Sachetta LLC raised its holdings in GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company’s stock worth $87,000 after purchasing an additional 16 shares in the last quarter. Good Life Advisors LLC grew its position in shares of GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after buying an additional 16 shares during the last quarter. Bell Investment Advisors Inc raised its stake in shares of GE Vernova by 6.7% during the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock worth $135,000 after acquiring an additional 16 shares in the last quarter. AMG National Trust Bank raised its stake in shares of GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock worth $606,000 after acquiring an additional 17 shares in the last quarter. Finally, Highline Wealth Partners LLC lifted its position in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the last quarter.

Analysts Set New Price Targets

GEV has been the topic of a number of recent analyst reports. Citigroup reduced their price target 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. Royal Bank Of Canada boosted their target price on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. UBS Group set a $710.00 price target on GE Vernova in a research note on Thursday, October 23rd. Wells Fargo & Company boosted their price target on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Finally, Mizuho decreased their price objective 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. Four equities research 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Stock Performance

Shares of GEV stock opened at $597.59 on Monday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm has a market capitalization of $162.14 billion, a PE ratio of 97.33, a P/E/G ratio of 4.46 and a beta of 1.68. The stock’s 50-day simple moving average is $592.17 and its 200-day simple moving average is $570.58.

GE Vernova (NYSE:GEV) last issued its 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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm 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) EPS. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were paid a $0.25 dividend. The ex-dividend date was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 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.