Stablepoint Partners LLC Buys New Shares in GE Vernova Inc. $GEV

by · The Markets Daily

Stablepoint Partners LLC purchased a new position in shares of GE Vernova Inc. (NYSE:GEV – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 590 shares of the company’s stock, valued at approximately $312,000.

Other large investors have also added to or reduced their stakes in the company. WFA Asset Management Corp acquired a new stake in shares of GE Vernova during the second quarter worth about $29,000. Highline Wealth Partners LLC raised its position in GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock worth $37,000 after buying an additional 18 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $37,000. Advantage Trust Co acquired a new stake in GE Vernova during the 2nd quarter valued at approximately $40,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of GE Vernova in the 2nd quarter valued at $40,000.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GEV shares. Cowen reissued a “buy” rating on shares of GE Vernova in a report on Thursday, October 23rd. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Melius Research set a $740.00 price objective on GE Vernova and gave the company a “buy” rating in a report on Monday, September 15th. Rothschild & Co Redburn restated a “sell” rating and issued a $475.00 target price on shares of GE Vernova in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company lifted their price target on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $607.81.

View Our Latest Stock Report on GEV

GE Vernova Stock Up 1.3%

NYSE:GEV opened at $597.59 on Friday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The stock’s 50-day moving average price is $592.17 and its 200-day moving average price is $569.62. The stock has a market capitalization of $162.14 billion, a PE ratio of 97.33, a price-to-earnings-growth ratio of 4.46 and a beta of 1.68.

GE Vernova (NYSE:GEV – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period in the previous year, the company posted ($0.35) EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Sell-side 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 was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were given a dividend of $0.25 per share. The ex-dividend date was Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

About GE Vernova

(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.

Recommended Stories

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV – Free Report).