Hedges Asset Management LLC Sells 3,325 Shares of GE Vernova Inc. $GEV
Hedges Asset Management LLC has reduced its stake in GE Vernova Inc. (NYSE:GEV) by 64.9%, selling 3,325 shares in the second quarter, leaving it with 1,800 shares valued at $952,000. Other hedge funds have also made transactions involving GE Vernova. The company's CFO sold 3,300 shares recently, and analysts have given the stock a "Moderate Buy" rating with an average price target of $580.04. GE Vernova reported strong Q2 earnings, beating estimates with $1.86 EPS and $9.11 billion in revenue, up 11.1% year-over-year.
Hedges Asset Management LLC lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 64.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,800 shares of the company's stock after selling 3,325 shares during the quarter. Hedges Asset Management LLC's holdings in GE Vernova were worth $952,000 at the end of the most recent reporting period.
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Other hedge funds have also bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in GE Vernova in the 1st quarter valued at $27,000. Orion Capital Management LLC purchased a new position in GE Vernova during the 4th quarter worth $30,000. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova in the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after buying an additional 53 shares during the last quarter. Finally, 1248 Management LLC bought a new stake in GE Vernova in the 1st quarter valued at about $31,000.
Insider Buying and Selling 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 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 directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by insiders.
Analyst Ratings Changes
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GEV has been the topic of a number of research reports. Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating on the stock. Barclays upped their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Jefferies Financial Group upped their price objective on shares of GE Vernova from $658.00 to $668.00 and gave the stock a "hold" rating in a research report on Friday. JPMorgan Chase & Co. upped their target price on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Robert W. Baird increased their price objective on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $580.04.
Check Out Our Latest Report on GE Vernova
GE Vernova Trading Down 1.3%
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Shares of GE Vernova stock opened at $625.99 on Friday. The firm has a market capitalization of $170.41 billion, a P/E ratio of 150.84, a P/E/G ratio of 4.38 and a beta of 1.87. The business has a fifty day simple moving average of $608.65 and a two-hundred day simple moving average of $468.10. GE Vernova Inc. has a 12 month low of $219.01 and a 12 month high of $677.29.
GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.
GE Vernova Company Profile
(Free Report)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.
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