GE Vernova Inc. $GEV Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its stake in GE Vernova Inc. (NYSE:GEV) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,155 shares of the company’s stock after acquiring an additional 953 shares during the quarter. Avantax Advisory Services Inc.’s holdings in GE Vernova were worth $4,844,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its position in GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Amundi lifted its holdings in GE Vernova by 109.0% during the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after buying an additional 834,129 shares during the last quarter. TD Asset Management Inc boosted its position in shares of GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after acquiring an additional 799,388 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of GE Vernova in the 1st quarter valued at about $223,556,000.

Analyst Ratings Changes

A number of research firms have weighed in on GEV. Citigroup cut their price objective on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Susquehanna lifted their target price on GE Vernova from $740.00 to $750.00 and gave the company a “positive” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada upped their price target on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Trading Down 3.9%

Shares of GEV opened at $554.50 on Wednesday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The firm has a market capitalization of $150.45 billion, a P/E ratio of 90.31, a price-to-earnings-growth ratio of 4.29 and a beta of 1.68. The stock’s fifty day simple moving average is $599.38 and its 200 day simple moving average is $561.03.

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 analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for 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%. GE Vernova’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Activity at GE Vernova

In other 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 value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

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.