GE Vernova Inc. $GEV Shares Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in GE Vernova Inc. (NYSE:GEV) by 15.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,982 shares of the company’s stock after purchasing an additional 542 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in GE Vernova were worth $2,107,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. lifted its position in GE Vernova by 35.4% in the second quarter. DHJJ Financial Advisors Ltd. now owns 134 shares of the company’s stock valued at $71,000 after purchasing an additional 35 shares during the period. Sterling Investment Counsel LLC acquired a new stake in GE Vernova in the second quarter valued at about $291,000. Yeomans Consulting Group Inc. acquired a new stake in GE Vernova in the second quarter valued at about $470,000. Synergy Asset Management LLC acquired a new stake in GE Vernova in the second quarter valued at about $249,000. Finally, Verus Financial Partners Inc. acquired a new stake in GE Vernova in the second quarter valued at about $239,000.

Analyst Ratings Changes

A number of equities research analysts recently commented on GEV shares. Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the company a “sector perform” rating in a research report on Wednesday. BMO Capital Markets increased their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Melius Research set a $740.00 target price on shares of GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Wells Fargo & Company increased their target price on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

GE Vernova Price Performance

Shares of GEV opened at $595.07 on Friday. The firm has a 50 day simple moving average of $623.21 and a 200-day simple moving average of $498.89. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The stock has a market cap of $161.99 billion, a price-to-earnings ratio of 143.39, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72.

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

GE Vernova Dividend Announcement

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

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their position. 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.

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.