Evermay Wealth Management LLC Buys 80 Shares of GE Vernova Inc. $GEV

Evermay Wealth Management LLC lifted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 19.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500 shares of the company’s stock after purchasing an additional 80 shares during the quarter. Evermay Wealth Management LLC’s holdings in GE Vernova were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares during the period. Amundi lifted its holdings in shares of GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after purchasing an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. grew its position in GE Vernova by 10,044.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares during the period. TD Asset Management Inc increased its stake in GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock valued at $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Finally, Nuveen LLC acquired a new position in GE Vernova during the first quarter worth $223,556,000.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $599.62 on Monday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The company has a market capitalization of $163.23 billion, a PE ratio of 144.49, a price-to-earnings-growth ratio of 4.34 and a beta of 1.72. The business has a fifty day moving average price of $616.42 and a two-hundred day moving average price of $522.14.

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

GE Vernova Dividend Announcement

The business also recently declared 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 presently 24.10%.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on GEV shares. JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. TD Cowen boosted their price objective on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Melius Research set a $740.00 price objective on GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Mizuho raised their target price on GE Vernova from $670.00 to $677.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.