544 Shares in GE Vernova Inc. $GEV Purchased by Lakeridge Wealth Management LLC

Lakeridge Wealth Management LLC purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, HoldingsChannel reports. The fund purchased 544 shares of the company’s stock, valued at approximately $288,000.

A number of other large investors have also recently modified their holdings of GEV. Vanguard Group Inc. lifted its position in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after buying an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after acquiring an additional 367,150 shares during the last quarter. Wellington Management Group LLP grew its position in GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after acquiring an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after acquiring an additional 622,730 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GEV shares. Bank of America increased their price objective on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Citigroup decreased their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, 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 report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus target price of $607.81.

Insider Buying and Selling

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 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 is accessible through the SEC website. 0.15% of the stock is owned by insiders.

GE Vernova Stock Up 0.9%

Shares of GEV opened at $580.21 on Tuesday. The stock has a market capitalization of $157.42 billion, a P/E ratio of 94.50, a PEG ratio of 4.28 and a beta of 1.69. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The firm has a fifty day simple moving average of $601.89 and a two-hundred day simple moving average of $552.90.

GE Vernova (NYSE:GEV) last released its quarterly 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). 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) EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts expect 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. Investors of record on Monday, October 20th will be given 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 of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

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.