Canandaigua National Bank & Trust Co. Decreases Position in GE Vernova Inc. $GEV

Canandaigua National Bank & Trust Co. trimmed its holdings in GE Vernova Inc. (NYSE:GEV) by 8.5% during the second quarter, HoldingsChannel reports. The firm owned 2,422 shares of the company’s stock after selling 224 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in GE Vernova were worth $1,282,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after purchasing an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after buying an additional 214,483 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after buying an additional 2,135,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock worth $634,984,000 after buying an additional 367,150 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after buying an additional 684,794 shares during the last quarter.

Insiders Place Their Bets

In related 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 sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was 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 at this hyperlink. 0.15% of the stock is currently owned by company insiders.

GE Vernova Price Performance

Shares of GEV opened at $628.09 on Tuesday. GE Vernova Inc. has a 1-year low of $225.24 and a 1-year high of $677.29. The stock has a market cap of $170.98 billion, a PE ratio of 151.35, a price-to-earnings-growth ratio of 4.32 and a beta of 1.87. The firm has a fifty day moving average price of $610.59 and a 200 day moving average price of $471.14.

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

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America raised their price target on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Susquehanna lifted their target price on shares of GE Vernova from $662.00 to $736.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 target price for the company in a report on Monday. Finally, UBS Group initiated coverage on shares of GE Vernova in a report on Monday, July 7th. They issued a “buy” rating and a $614.00 target price for the company. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $592.35.

GE Vernova 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.