OneAscent Family Office LLC Purchases New Holdings in GE Vernova Inc. $GEV

OneAscent Family Office LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 407 shares of the company’s stock, valued at approximately $215,000.

Several other institutional investors have also recently added to or reduced their stakes in GEV. Caitong International Asset Management Co. Ltd acquired a new position in GE Vernova during the first quarter worth $912,000. Pines Wealth Management LLC acquired a new stake in GE Vernova in the 2nd quarter valued at $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 worth $26,229,000 after buying an additional 6,551 shares in the last quarter. Dupree Financial Group LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth about $253,000. Finally, Lockheed Martin Investment Management Co. acquired a new position in shares of GE Vernova during the 1st quarter worth about $458,000.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by corporate insiders.

GE Vernova Stock Up 2.2%

Shares of GEV stock opened at $559.87 on Thursday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The business has a fifty day simple moving average of $605.04 and a 200 day simple moving average of $546.45. The company has a market cap of $151.90 billion, a P/E ratio of 91.18, a P/E/G ratio of 4.08 and a beta of 1.68.

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

GE Vernova Dividend Announcement

The company also recently disclosed 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 is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is currently 16.29%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Barclays upped their price objective on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Glj Research boosted their target price on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Redburn Partners set a $475.00 price target on shares of GE Vernova in a research note on Wednesday, October 15th. Finally, Cowen reissued a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $607.81.

About GE Vernova

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.