Thoroughbred Financial Services LLC Has $221,000 Stake in GE Vernova Inc. $GEV
Thoroughbred Financial Services LLC reduced its holdings in GE Vernova Inc. by 67.4% in Q2, now owning 418 shares worth $221,000. Other investors also adjusted their positions. GE Vernova's stock opened at $554.50, with a 1-year range of $252.25-$677.29. The company reported Q3 earnings of $1.64 per share, missing estimates. Analysts have mixed ratings, with a consensus price target of $607.81. CFO Kenneth Scott Parks sold 3,300 shares recently.
Thoroughbred Financial Services LLC lowered its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 67.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 418 shares of the company's stock after selling 864 shares during the quarter. Thoroughbred Financial Services LLC's holdings in GE Vernova were worth $221,000 as of its most recent filing with the SEC.
- GE Vernova: Valuation Down & Fundamentals Up—A Recipe for Success
Several other large investors also recently made changes to their positions in the business. WFA Asset Management Corp acquired a new position in GE Vernova during the 2nd quarter worth about $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 worth $37,000 after acquiring an additional 18 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of GE Vernova during the second quarter worth approximately $37,000. Advantage Trust Co bought a new stake in shares of GE Vernova during the second quarter valued at approximately $40,000. Finally, Solstein Capital LLC bought a new stake in shares of GE Vernova during the second quarter valued at approximately $44,000.
GE Vernova Trading Down 3.9%
NYSE:GEV opened at $554.50 on Wednesday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a market capitalization of $150.45 billion, a price-to-earnings ratio of 90.31, a PEG ratio of 4.29 and a beta of 1.68. The business's 50-day moving average price is $599.38 and its two-hundred day moving average price is $561.03.
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GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.08). The company had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned ($0.35) earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were issued a $0.25 dividend. The ex-dividend date was Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 16.29%.
Wall Street Analyst Weigh In
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Several research firms have issued reports on GEV. Guggenheim downgraded GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Redburn Partners set a $475.00 target price on GE Vernova in a research report on Wednesday, October 15th. Robert W. Baird raised their price target on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group reiterated a "hold" rating and issued a $654.00 price objective on shares of GE Vernova in a research report on Monday, October 27th. Finally, Wells Fargo & Company upped their target price on shares of GE Vernova from $697.00 to $717.00 and gave the company an "overweight" rating in a research report on Friday, October 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and a consensus price target of $607.81.
Check Out Our Latest Stock Analysis on GE Vernova
Insider Buying and Selling at GE Vernova
In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business'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 completion of the transaction, the chief financial officer 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.
GE Vernova 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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