Stonebridge Financial Group LLC Acquires 36 Shares of GE Vernova Inc. $GEV

Stonebridge Financial Group LLC boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 10.5% in the second quarter, HoldingsChannel reports. The firm owned 380 shares of the company’s stock after purchasing an additional 36 shares during the period. Stonebridge Financial Group LLC’s holdings in GE Vernova were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Sachetta LLC increased 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. Highline Wealth Partners LLC increased its holdings in shares of 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 in the last quarter. Atlas Brown Inc. increased its holdings in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after acquiring an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. increased its holdings in shares of GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock valued at $128,000 after acquiring an additional 20 shares in the last quarter. Finally, West Branch Capital LLC increased its holdings in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after acquiring an additional 20 shares in the last quarter.

Analysts Set New Price Targets

GEV has been the subject of several recent research reports. Royal Bank Of Canada set a $605.00 price objective on GE Vernova and gave the company a “sector perform” rating in a report on Wednesday, October 1st. UBS Group initiated coverage on GE Vernova in a report on Monday, July 7th. They set a “buy” rating and a $614.00 price objective for the company. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Wolfe Research downgraded GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Finally, Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.50.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 4.4%

Shares of NYSE:GEV opened at $606.30 on Friday. The stock has a market cap of $165.05 billion, a price-to-earnings ratio of 146.10, a PEG ratio of 4.61 and a beta of 1.72. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The business’s 50 day moving average is $619.64 and its 200 day moving average is $508.47.

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

GE Vernova Dividend Announcement

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

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.