Fortitude Advisory Group L.L.C. Boosts Holdings in GE Vernova Inc. $GEV

Fortitude Advisory Group L.L.C. boosted its position in shares of GE Vernova Inc. (NYSE:GEV) by 16.2% in the second quarter, HoldingsChannel reports. The fund owned 911 shares of the company’s stock after purchasing an additional 127 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in GE Vernova were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Beacon Financial Advisory LLC acquired a new position in GE Vernova during the 2nd quarter valued at approximately $328,000. Gemmer Asset Management LLC acquired a new position in GE Vernova during the 2nd quarter valued at approximately $247,000. Simplicity Wealth LLC acquired a new position in GE Vernova during the 2nd quarter valued at approximately $667,000. MBL Wealth LLC acquired a new position in GE Vernova during the 2nd quarter valued at approximately $237,000. Finally, Sutton Place Investors LLC acquired a new position in GE Vernova during the 2nd quarter valued at approximately $273,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GEV shares. Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a research note on Saturday, September 27th. Wolfe Research lowered shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Finally, BMO Capital Markets increased their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Price Performance

NYSE:GEV opened at $595.07 on Friday. The firm has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a PEG ratio of 4.34 and a beta of 1.72. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The company’s fifty day moving average price is $623.21 and its 200-day moving average price is $500.03.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Insider Buying and Selling

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 sale, the chief financial officer owned 7,590 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.