Crewe Advisors LLC Reduces Stock Holdings in GE Vernova Inc. $GEV

Crewe Advisors LLC lessened its position in shares of GE Vernova Inc. (NYSE:GEV) by 11.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 583 shares of the company’s stock after selling 79 shares during the quarter. Crewe Advisors LLC’s holdings in GE Vernova were worth $308,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GEV. Townsend & Associates Inc purchased a new position in GE Vernova during the 2nd quarter valued at about $223,000. Evermay Wealth Management LLC lifted its holdings in shares of GE Vernova by 19.0% in the second quarter. Evermay Wealth Management LLC now owns 500 shares of the company’s stock valued at $265,000 after purchasing an additional 80 shares in the last quarter. CMG Global Holdings LLC grew its position in shares of GE Vernova by 7.9% in the second quarter. CMG Global Holdings LLC now owns 5,490 shares of the company’s stock valued at $2,905,000 after purchasing an additional 403 shares during the last quarter. Lyell Wealth Management LP purchased a new position in shares of GE Vernova during the 2nd quarter worth approximately $278,000. Finally, Northeast Investment Management increased its stake in shares of GE Vernova by 560.5% during the 2nd quarter. Northeast Investment Management now owns 7,820 shares of the company’s stock worth $4,138,000 after purchasing an additional 6,636 shares in the last quarter.

GE Vernova Stock Down 0.4%

Shares of NYSE:GEV opened at $599.62 on Monday. The company has a market capitalization of $163.23 billion, a price-to-earnings ratio of 144.49, a price-to-earnings-growth ratio of 4.34 and a beta of 1.72. The company has a 50 day moving average of $616.42 and a two-hundred day moving average of $522.14. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

GEV has been the topic of a number of recent research reports. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Morgan Stanley boosted their price target on GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research note on Monday, September 15th. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, BMO Capital Markets upped their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $592.61.

GE Vernova Company 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.