GE Vernova Inc. $GEV Shares Sold by Johnson & White Wealth Management LLC

Johnson & White Wealth Management LLC lowered its position in GE Vernova Inc. (NYSE:GEV) by 7.0% in the second quarter, Holdings Channel reports. The fund owned 864 shares of the company’s stock after selling 65 shares during the period. Johnson & White Wealth Management LLC’s holdings in GE Vernova were worth $457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its holdings in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of GE Vernova by 94.4% in the 4th quarter. Centaurus Financial Inc. now owns 1,600 shares of the company’s stock valued at $526,000 after buying an additional 777 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new position in shares of GE Vernova in the 4th quarter valued at $237,000. MassMutual Private Wealth & Trust FSB grew its position in shares of GE Vernova by 24.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,409 shares of the company’s stock valued at $430,000 after buying an additional 276 shares during the last quarter. Finally, First Hawaiian Bank acquired a new stake in GE Vernova during the 1st quarter worth $341,000.

GE Vernova Stock Down 0.4%

Shares of NYSE:GEV opened at $605.21 on Friday. GE Vernova Inc. has a fifty-two week low of $248.50 and a fifty-two week high of $677.29. The firm’s 50-day simple moving average is $622.99 and its 200-day simple moving average is $490.14. The company has a market cap of $164.75 billion, a price-to-earnings ratio of 145.83, a PEG ratio of 4.41 and a beta of 1.87.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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. The company had revenue of $9.11 billion for 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 firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Analysts Set New Price Targets

GEV has been the subject of several research analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of GE Vernova in a research note on Thursday, July 24th. The Goldman Sachs Group lifted their price target on GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research report on Tuesday, June 10th. 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 report on Thursday, July 24th. BMO Capital Markets lifted their target price on shares of GE Vernova from $590.00 to $690.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Finally, Wolfe Research cut shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $592.35.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.