Fortitude Advisory Group L.L.C. Purchases 127 Shares of GE Vernova Inc. $GEV

Fortitude Advisory Group L.L.C. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 16.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 911 shares of the company’s stock after purchasing an additional 127 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in GE Vernova were worth $482,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC grew its holdings in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in GE Vernova during the 2nd quarter valued at about $37,000. IMA Advisory Services Inc. bought a new position in GE Vernova during the 1st quarter valued at about $27,000. EQ Wealth Advisors LLC bought a new position in GE Vernova during the 1st quarter valued at about $27,000. Finally, West Branch Capital LLC grew its holdings in GE Vernova by 25.6% during the 2nd quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after purchasing an additional 20 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 sale, the chief financial officer 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by insiders.

GE Vernova Stock Performance

Shares of GEV opened at $595.07 on Friday. The company has a 50 day moving average price of $623.21 and a 200-day moving average price of $500.03. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a market capitalization of $161.99 billion, a PE ratio of 143.39, a PEG ratio of 4.34 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend 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 is presently 24.10%.

Analyst Ratings Changes

Several equities analysts recently commented on GEV shares. Citigroup upped their price target on shares of GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. UBS Group started coverage on shares of GE Vernova in a research report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective for the company. Barclays boosted their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $598.50.

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.