Prospera Financial Services Inc Purchases 3,587 Shares of GE Vernova Inc. $GEV

Prospera Financial Services Inc raised its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 113.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,760 shares of the company’s stock after acquiring an additional 3,587 shares during the period. Prospera Financial Services Inc’s holdings in GE Vernova were worth $3,581,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after purchasing an additional 753 shares in the last quarter. Cerity Partners LLC boosted its position in GE Vernova by 37.1% during the first quarter. Cerity Partners LLC now owns 75,652 shares of the company’s stock valued at $23,095,000 after buying an additional 20,452 shares during the period. Diversify Wealth Management LLC boosted its position in GE Vernova by 12.7% during the first quarter. Diversify Wealth Management LLC now owns 1,295 shares of the company’s stock valued at $395,000 after buying an additional 146 shares during the period. Ballentine Partners LLC grew its stake in shares of GE Vernova by 0.8% during the first quarter. Ballentine Partners LLC now owns 5,129 shares of the company’s stock valued at $1,566,000 after buying an additional 39 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of GE Vernova by 2.1% in the first quarter. Arizona State Retirement System now owns 80,896 shares of the company’s stock worth $24,696,000 after buying an additional 1,653 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GEV. Barclays increased their target price on GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. Robert W. Baird raised their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. TD Cowen lowered their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Finally, Citigroup dropped their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Stock Performance

NYSE:GEV opened at $575.61 on Monday. The firm has a market cap of $156.18 billion, a P/E ratio of 93.75, a P/E/G ratio of 4.28 and a beta of 1.69. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm has a 50-day simple moving average of $602.58 and a two-hundred day simple moving average of $551.35.

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

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’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. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by corporate insiders.

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.