Fulton Bank N.A. Increases Stock Position in GE Vernova Inc. $GEV

Fulton Bank N.A. raised its stake in shares of GE Vernova Inc. (NYSE:GEV) by 31.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,511 shares of the company’s stock after purchasing an additional 848 shares during the period. Fulton Bank N.A.’s holdings in GE Vernova were worth $4,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GEV. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the 4th quarter valued at about $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the third quarter worth about $25,000. Torren Management LLC bought a new stake in shares of GE Vernova in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC grew its position in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after buying an additional 13 shares during the last quarter. Finally, Navalign LLC purchased a new stake in GE Vernova in the fourth quarter worth $27,000.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. William Blair reaffirmed an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of GE Vernova in a research note on Friday. Argus set a $1,300.00 price target on shares of GE Vernova in a research report on Monday, April 27th. Finally, Robert W. Baird increased their price target on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and an average price target of $1,133.15.

GE Vernova Trading Down 0.2%

NYSE:GEV opened at $988.37 on Tuesday. The firm has a market capitalization of $263.23 billion, a P/E ratio of 28.29, a PEG ratio of 3.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company’s 50-day simple moving average is $1,027.37 and its 200 day simple moving average is $949.18.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.79 billion. During the same period last year, the business earned $1.86 EPS. GE Vernova’s revenue was up 21.9% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 15.57 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is 5.72%.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.