GE Vernova Inc. $GEV Shares Purchased by Keybank National Association OH

Keybank National Association OH increased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 9.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,575 shares of the company’s stock after purchasing an additional 960 shares during the quarter. Keybank National Association OH’s holdings in GE Vernova were worth $6,125,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. WFA Asset Management Corp acquired a new position in GE Vernova in the 2nd quarter valued at about $29,000. Highline Wealth Partners LLC grew its position in GE Vernova by 34.6% in the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in GE Vernova in the 2nd quarter valued at about $37,000. Advantage Trust Co acquired a new position in GE Vernova in the 2nd quarter valued at about $40,000. Finally, Solstein Capital LLC acquired a new position in GE Vernova in the 2nd quarter valued at about $44,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on GEV. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Jefferies Financial Group reissued a “hold” rating and set a $654.00 price objective on shares of GE Vernova in a research report on Monday. Susquehanna boosted their price objective on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a research report on Thursday, October 23rd. Royal Bank Of Canada boosted their price objective on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Finally, Rothschild Redb downgraded GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $607.81.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’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 sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $584.82 on Friday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The company has a market cap of $158.67 billion, a PE ratio of 95.25, a P/E/G ratio of 4.25 and a beta of 1.72. The business has a 50-day simple moving average of $608.29 and a 200-day simple moving average of $539.97.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). The business had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is presently 16.29%.

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.