Folger Nolan Fleming Douglas Capital Management Inc. Sells 95 Shares of GE Vernova Inc. $GEV

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in GE Vernova Inc. (NYSE:GEV) by 3.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,459 shares of the company’s stock after selling 95 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in GE Vernova were worth $1,301,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GEV. Vanguard Group Inc. raised its stake in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock worth $7,446,577,000 after buying an additional 432,830 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of GE Vernova by 7.4% in the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of GE Vernova by 21.4% in the first 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 period. Wellington Management Group LLP raised its stake in shares of GE Vernova by 50.9% in the first 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 period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of GE Vernova by 47.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after buying an additional 622,730 shares during the period.

Analyst Ratings Changes

Several research firms have recently commented on GEV. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their price objective on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. UBS Group initiated coverage on GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Barclays lifted their target price on GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company lifted their target price on GE Vernova from $474.00 to $697.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $598.50.

GE Vernova Trading Down 4.4%

Shares of GEV opened at $606.30 on Friday. The company has a market capitalization of $165.05 billion, a PE ratio of 146.10, a price-to-earnings-growth ratio of 4.61 and a beta of 1.72. The business’s 50 day moving average is $619.64 and its 200 day moving average is $508.47. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations 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 last year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research 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 declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued 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%.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is owned by corporate insiders.

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.