Patten & Patten Inc. TN Purchases 2,096 Shares of GE Vernova Inc. $GEV

Patten & Patten Inc. TN increased its position in GE Vernova Inc. (NYSE:GEV) by 51.9% during the second quarter, HoldingsChannel.com reports. The firm owned 6,134 shares of the company’s stock after acquiring an additional 2,096 shares during the quarter. Patten & Patten Inc. TN’s holdings in GE Vernova were worth $3,246,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. EQ Wealth Advisors LLC bought a new position in GE Vernova in the 1st quarter worth about $27,000. IMA Advisory Services Inc. bought a new position in GE Vernova in the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares in the last quarter. 1248 Management LLC bought a new position in GE Vernova in the 1st quarter worth about $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the 1st quarter worth about $33,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. TD Cowen boosted their target price on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Barclays boosted their target price on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Melius Research set a $740.00 target price on GE Vernova and gave the stock a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. boosted their target price on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Morgan Stanley boosted their target price on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $592.07.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of the sale, 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 link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Stock Down 4.1%

NYSE GEV opened at $617.78 on Thursday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a market capitalization of $168.17 billion, a P/E ratio of 148.86, a PEG ratio of 4.67 and a beta of 1.72. The company has a 50-day moving average price of $618.29 and a 200-day moving average price of $515.27.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS 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 firm 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 firm earned $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. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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