Easterly Investment Partners LLC Purchases New Position in GE Vernova Inc. $GEV

Easterly Investment Partners LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 409 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after acquiring an additional 542 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of GE Vernova by 79.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company’s stock worth $67,622,000 after acquiring an additional 98,034 shares during the period. Sowell Financial Services LLC purchased a new position in shares of GE Vernova during the 1st quarter worth approximately $681,000. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of GE Vernova by 12.4% during the 1st quarter. Cornerstone Wealth Management LLC now owns 2,523 shares of the company’s stock worth $770,000 after acquiring an additional 279 shares during the period.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. Rothschild Redb downgraded GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday. HSBC upped their target price on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price on the stock in a report on Monday, September 15th. Finally, Jefferies Financial Group boosted their price target on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $592.61.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’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 value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 0.4%

Shares of GEV opened at $599.62 on Friday. The business’s 50 day moving average price is $616.42 and its 200-day moving average price is $519.27. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The stock has a market cap of $163.23 billion, a P/E ratio of 144.49, a P/E/G ratio of 4.36 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its quarterly 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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the previous year, the firm posted $4.65 EPS. The business’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, equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 24.10%.

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.