Hamel Associates Inc. Makes New Investment in GE Vernova Inc. $GEV

Hamel Associates Inc. purchased a new stake in GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 396 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also made changes to their positions in GEV. WFA Asset Management Corp bought a new position in GE Vernova in the 2nd quarter worth approximately $29,000. 1248 Management LLC acquired a new stake in shares of GE Vernova in the first quarter worth $31,000. Saudi Central Bank acquired a new stake in shares of GE Vernova in the first quarter worth $33,000. Ransom Advisory Ltd bought a new position in GE Vernova during the first quarter worth $33,000. Finally, Highline Wealth Partners LLC raised its stake in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares during the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen decreased their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Glj Research lifted their target price on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research report on Monday, September 15th. Finally, Barclays lifted their price objective on GE Vernova from $706.00 to $710.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Four research 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 issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

GE Vernova Trading Up 1.3%

GEV stock opened at $597.59 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The business’s 50 day moving average is $592.17 and its 200-day moving average is $569.62. The firm has a market cap of $162.14 billion, a P/E ratio of 97.33, a P/E/G ratio of 4.46 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 the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the business earned ($0.35) EPS. GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 16.29%.

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.