CreativeOne Wealth LLC Acquires 537 Shares of GE Vernova Inc. $GEV

CreativeOne Wealth LLC lifted its holdings in GE Vernova Inc. (NYSE:GEV) by 19.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 3,238 shares of the company’s stock after acquiring an additional 537 shares during the quarter. CreativeOne Wealth LLC’s holdings in GE Vernova were worth $1,714,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in GE Vernova by 1.1% in the second quarter. Vanguard Group Inc. now owns 24,664,571 shares of the company’s stock worth $13,051,258,000 after purchasing an additional 271,958 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GE Vernova by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 6,108,484 shares of the company’s stock valued at $3,221,404,000 after acquiring an additional 129,315 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 valued at $634,984,000 after acquiring an additional 367,150 shares during the period. Finally, Wellington Management Group LLP grew its position in GE Vernova by 50.9% during the 1st 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 during the last quarter.

GE Vernova Trading Up 3.1%

Shares of GEV opened at $590.38 on Thursday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm’s 50-day moving average price is $593.13 and its 200-day moving average price is $567.26. The firm has a market capitalization of $160.18 billion, a price-to-earnings ratio of 96.15, a PEG ratio of 4.26 and a beta of 1.68.

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

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were paid a $0.25 dividend. The ex-dividend date was 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 presently 16.29%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GEV. Cowen reiterated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Redburn Partners set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. TD Cowen cut their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $715.00 to $740.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Finally, Barclays increased their target price on shares of GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Four 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 issued a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

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.