Capital Investment Advisors LLC Boosts Holdings in GE Vernova Inc. $GEV

Capital Investment Advisors LLC lifted its stake in GE Vernova Inc. (NYSE:GEV) by 18.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,605 shares of the company’s stock after buying an additional 551 shares during the quarter. Capital Investment Advisors LLC’s holdings in GE Vernova were worth $1,907,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of GE Vernova in the 1st quarter worth about $912,000. Pines Wealth Management LLC purchased a new position in GE Vernova during the 2nd quarter valued at about $408,000. Resona Asset Management Co. Ltd. lifted its position in GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after acquiring an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. purchased a new position in GE Vernova during the 1st quarter valued at about $458,000. Finally, Golden State Wealth Management LLC lifted its position in GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after acquiring an additional 817 shares during the period.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 in the company, 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 SEC, which is available through this link. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Glj Research assumed coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a “buy” rating for the company. Citigroup lifted their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Royal Bank Of Canada reissued an “outperform” rating on shares of GE Vernova in a research report on Thursday, July 24th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, UBS Group assumed coverage on shares of GE Vernova in a research report on Monday, July 7th. They set a “buy” rating and a $614.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $592.35.

GE Vernova Stock Performance

NYSE:GEV opened at $614.57 on Wednesday. The firm has a market cap of $167.30 billion, a P/E ratio of 148.09, a P/E/G ratio of 4.39 and a beta of 1.87. GE Vernova Inc. has a fifty-two week low of $248.50 and a fifty-two week high of $677.29. The firm has a 50-day simple moving average of $625.00 and a two-hundred day simple moving average of $494.32.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 24.10%.

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.