Sovereign Financial Group Inc. Sells 249 Shares of GE Vernova Inc. $GEV

Sovereign Financial Group Inc. lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,879 shares of the company’s stock after selling 249 shares during the quarter. Sovereign Financial Group Inc.’s holdings in GE Vernova were worth $994,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GEV. EQ Wealth Advisors LLC bought a new stake in GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. bought a new stake in GE Vernova during the first quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC bought a new stake in GE Vernova during the first quarter worth $31,000. Finally, Saudi Central Bank purchased a new position in GE Vernova in the first quarter worth $33,000.

Analyst Ratings Changes

Several research analysts have weighed in on GEV shares. BMO Capital Markets boosted their price objective on GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. HSBC boosted their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Mizuho cut GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective on the stock. in a research report on Monday, July 28th. Robert W. Baird boosted their price objective on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Finally, Citigroup boosted their price objective on GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $598.50.

GE Vernova Stock Performance

Shares of GEV opened at $606.30 on Friday. The business has a 50-day moving average of $619.64 and a 200 day moving average of $509.80. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm has a market cap of $165.05 billion, a P/E ratio of 146.10, a price-to-earnings-growth ratio of 4.40 and a beta of 1.72.

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, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the firm posted $4.65 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

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.