Jacobsen Capital Management Acquires New Position in GE Vernova Inc. $GEV

Jacobsen Capital Management bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 614 shares of the company’s stock, valued at approximately $325,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of GE Vernova in the first quarter valued at $912,000. Pines Wealth Management LLC purchased a new stake in GE Vernova during the 2nd quarter worth about $408,000. Resona Asset Management Co. Ltd. increased its holdings in GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC acquired a new stake in GE Vernova in the 2nd quarter valued at about $253,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova in the 1st quarter valued at about $458,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on GEV. Robert W. Baird upped their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. HSBC lifted their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Finally, Morgan Stanley increased their target price on GE Vernova from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $601.44.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

GE Vernova Trading Down 1.5%

Shares of NYSE GEV opened at $585.12 on Wednesday. The stock has a market cap of $159.28 billion, a P/E ratio of 140.99, a P/E/G ratio of 4.30 and a beta of 1.72. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock has a 50 day moving average of $613.83 and a two-hundred day moving average of $524.82.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating 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 company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

GE Vernova 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.