Peterson Wealth Services Has $502,000 Stake in GE Vernova Inc. $GEV

Peterson Wealth Services boosted its holdings in GE Vernova Inc. (NYSE:GEV) by 31,533.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 949 shares of the company’s stock after purchasing an additional 946 shares during the quarter. Peterson Wealth Services’ holdings in GE Vernova were worth $502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in GE Vernova during the 1st quarter worth approximately $912,000. Pines Wealth Management LLC purchased a new position in shares of GE Vernova during the second quarter valued at approximately $408,000. Resona Asset Management Co. Ltd. grew its holdings in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after buying an additional 6,551 shares in the last quarter. Dupree Financial Group LLC bought a new stake in GE Vernova during the second quarter worth $253,000. Finally, Lockheed Martin Investment Management Co. bought a new position in GE Vernova during the 1st quarter valued at $458,000.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America increased their price target on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Citigroup reduced their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Royal Bank Of Canada lifted their price objective on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research report on Thursday. Four equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.59.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $584.68 on Friday. The stock has a market capitalization of $158.64 billion, a P/E ratio of 95.23, a P/E/G ratio of 4.30 and a beta of 1.72. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The stock’s 50-day simple moving average is $611.31 and its 200 day simple moving average is $529.36.

GE Vernova (NYSE:GEV) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) 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.