Allegiance Financial Group Advisory Services LLC Has $419,000 Stake in GE Vernova Inc. $GEV

Allegiance Financial Group Advisory Services LLC decreased its stake in shares of GE Vernova Inc. (NYSE:GEV) by 30.0% during the second quarter, HoldingsChannel.com reports. The fund owned 791 shares of the company’s stock after selling 339 shares during the period. Allegiance Financial Group Advisory Services LLC’s holdings in GE Vernova were worth $419,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Hager Investment Management Services LLC increased its holdings in shares of GE Vernova by 38.6% during the 2nd quarter. Hager Investment Management Services LLC now owns 1,306 shares of the company’s stock valued at $691,000 after acquiring an additional 364 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of GE Vernova by 146.1% during the 2nd quarter. Vontobel Holding Ltd. now owns 22,520 shares of the company’s stock valued at $11,916,000 after acquiring an additional 13,370 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of GE Vernova by 4.3% during the 2nd quarter. Maryland State Retirement & Pension System now owns 13,288 shares of the company’s stock valued at $7,031,000 after acquiring an additional 549 shares during the last quarter. Optas LLC increased its holdings in shares of GE Vernova by 5.3% during the 2nd quarter. Optas LLC now owns 2,063 shares of the company’s stock valued at $1,092,000 after acquiring an additional 103 shares during the last quarter. Finally, Massachusetts Wealth Management increased its holdings in shares of GE Vernova by 0.9% during the 2nd quarter. Massachusetts Wealth Management now owns 6,053 shares of the company’s stock valued at $3,203,000 after acquiring an additional 54 shares during the last quarter.

GE Vernova Trading Up 3.2%

Shares of NYSE:GEV opened at $625.47 on Thursday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a market capitalization of $170.27 billion, a PE ratio of 150.72, a PEG ratio of 4.41 and a beta of 1.72. The business’s 50 day moving average is $621.18 and its 200-day moving average is $504.60.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the firm earned $4.65 EPS. GE Vernova’s revenue for the quarter was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was 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 owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on GEV. Jefferies Financial Group raised their target price on GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a report on Friday, September 12th. Wolfe Research lowered GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Barclays raised their target price on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Royal Bank Of Canada set a $605.00 target price on GE Vernova and gave the company a “sector perform” rating in a report on Wednesday, October 1st. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $598.50.

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.