Ingalls & Snyder LLC Purchases 874 Shares of GE Vernova Inc. $GEV

Ingalls & Snyder LLC boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 18.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,740 shares of the company’s stock after acquiring an additional 874 shares during the quarter. Ingalls & Snyder LLC’s holdings in GE Vernova were worth $3,037,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. IMA Advisory Services Inc. bought a new position in GE Vernova during the first quarter worth about $27,000. WFA Asset Management Corp acquired a new stake in shares of GE Vernova in the second quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after acquiring an additional 53 shares during the period. 1248 Management LLC acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $31,000. Finally, Saudi Central Bank bought a new stake in GE Vernova in the 1st quarter valued at $33,000.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Down 1.8%

GEV stock opened at $584.68 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The business has a 50-day simple moving average of $611.31 and a 200 day simple moving average of $531.04. The company has a market cap of $158.64 billion, a PE ratio of 95.23, a price-to-earnings-growth ratio of 4.22 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a research report on Saturday. Glj Research upped their price target on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. BMO Capital Markets upped their target price on GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, TD Cowen dropped their price target on GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $607.59.

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.