ABN Amro Investment Solutions Invests $2.86 Million in GE Vernova Inc. $GEV

ABN Amro Investment Solutions acquired a new position in shares of GE Vernova Inc. (NYSE:GEV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,396 shares of the company’s stock, valued at approximately $2,855,000.

Several other large investors have also recently modified their holdings of the business. Brighton Jones LLC increased its stake in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. Dakota Wealth Management increased its stake in GE Vernova by 4.9% during the 1st quarter. Dakota Wealth Management now owns 1,611 shares of the company’s stock valued at $492,000 after purchasing an additional 75 shares in the last quarter. Victory Capital Management Inc. grew its holdings in GE Vernova by 55.5% during the first quarter. Victory Capital Management Inc. now owns 145,392 shares of the company’s stock worth $44,385,000 after buying an additional 51,913 shares in the last quarter. Verdence Capital Advisors LLC grew its position in GE Vernova by 7.6% in the 1st quarter. Verdence Capital Advisors LLC now owns 3,421 shares of the company’s stock worth $1,044,000 after purchasing an additional 242 shares in the last quarter. Finally, Bailard Inc. bought a new stake in shares of GE Vernova during the 1st quarter worth $339,000.

GE Vernova Stock Up 3.5%

Shares of NYSE:GEV opened at $577.64 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The firm’s 50 day moving average price is $600.86 and its 200-day moving average price is $555.94. The stock has a market capitalization of $156.72 billion, a PE ratio of 94.08, a price-to-earnings-growth ratio of 4.15 and a beta of 1.68.

GE Vernova (NYSE:GEV) last released 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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the firm posted ($0.35) EPS. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. Analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a dividend of $0.25 per share. 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 (DPR) is 16.29%.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

GEV has been the subject of several research reports. Glj Research increased their price target on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Cowen reiterated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Robert W. Baird boosted their price target on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Finally, Wells Fargo & Company upped their target price on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $607.81.

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.