Prentice Wealth Management LLC Buys Shares of 462 GE Vernova Inc. $GEV

Prentice Wealth Management LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 462 shares of the company’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GEV. Vanguard Group Inc. increased its holdings in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after purchasing an additional 432,830 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after purchasing an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of GE Vernova by 21.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after purchasing an additional 367,150 shares during the period. Wellington Management Group LLP increased its holdings in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after purchasing an additional 684,794 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares during the period.

GE Vernova Stock Performance

Shares of NYSE:GEV opened at $594.45 on Friday. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29. The firm has a fifty day moving average of $612.04 and a 200 day moving average of $527.31. The firm has a market capitalization of $161.82 billion, a PE ratio of 96.82, a price-to-earnings-growth ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its 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). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the firm posted ($0.35) earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s 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 directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Rothschild & Co Redburn reaffirmed a “sell” rating and issued a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Susquehanna upped their price target on shares of GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Wells Fargo & Company upped their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $607.48.

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.