GE Vernova Inc. $GEV Shares Sold by Bulltick Wealth Management LLC

Bulltick Wealth Management LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 39.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,424 shares of the company’s stock after selling 6,184 shares during the quarter. GE Vernova comprises about 1.2% of Bulltick Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Bulltick Wealth Management LLC’s holdings in GE Vernova were worth $4,987,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. WFA Asset Management Corp acquired a new stake in GE Vernova during the 2nd quarter worth approximately $29,000. Highline Wealth Partners LLC raised its stake in shares of GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of GE Vernova in the second quarter valued at $37,000. Advantage Trust Co purchased a new position in GE Vernova in the second quarter valued at $40,000. Finally, Solstein Capital LLC acquired a new position in GE Vernova during the 2nd quarter worth $44,000.

Analysts Set New Price Targets

GEV has been the topic of a number of analyst reports. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research report on Monday, September 15th. BMO Capital Markets raised their target price on shares of GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Robert W. Baird boosted their price target on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Susquehanna lifted their price objective on shares of GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Stock Performance

Shares of GEV stock opened at $577.64 on Monday. The stock’s 50-day moving average is $600.86 and its two-hundred day moving average is $558.55. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The firm has a market cap of $156.72 billion, a price-to-earnings ratio of 94.08, a PEG ratio of 4.30 and a beta of 1.69.

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

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio is presently 16.29%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction 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 transaction, the chief financial officer directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

About GE Vernova

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.