GE Vernova Inc. $GEV Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust lessened its position in GE Vernova Inc. (NYSE:GEV) by 16.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,474 shares of the company’s stock after selling 9,030 shares during the period. GE Vernova makes up 0.8% of FineMark National Bank & Trust’s portfolio, making the stock its 27th biggest position. FineMark National Bank & Trust’s holdings in GE Vernova were worth $23,533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sachetta LLC increased its stake in shares of GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after purchasing an additional 16 shares during the period. Good Life Advisors LLC grew its holdings in GE Vernova by 1.0% in the 2nd quarter. Good Life Advisors LLC now owns 1,654 shares of the company’s stock worth $875,000 after buying an additional 16 shares in the last quarter. Bell Investment Advisors Inc increased its position in GE Vernova by 6.7% in the 2nd quarter. Bell Investment Advisors Inc now owns 256 shares of the company’s stock valued at $135,000 after acquiring an additional 16 shares during the period. AMG National Trust Bank raised its stake in GE Vernova by 1.5% during the 2nd quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares in the last quarter. Finally, Highline Wealth Partners LLC raised its stake in GE Vernova by 34.6% during 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.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by company insiders.

GE Vernova Stock Down 3.9%

GEV opened at $554.50 on Wednesday. The firm has a market cap of $150.45 billion, a PE ratio of 90.31, a P/E/G ratio of 4.29 and a beta of 1.68. The business has a fifty day simple moving average of $599.38 and a 200-day simple moving average of $561.03. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

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

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Monday, October 20th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is presently 16.29%.

Analyst Ratings Changes

A number of brokerages have recently commented on GEV. Rothschild & Co Redburn reissued a “sell” rating and set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. BMO Capital Markets upped their price target on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a research note on Thursday, October 23rd. UBS Group set a $710.00 price objective on shares of GE Vernova in a report on Thursday, October 23rd. Finally, Citigroup dropped their target price on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

About GE Vernova

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.