Petros Family Wealth LLC Sells 39 Shares of GE Vernova Inc. $GEV

Petros Family Wealth LLC cut its holdings in GE Vernova Inc. (NYSE:GEV) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,048 shares of the company’s stock after selling 39 shares during the quarter. Petros Family Wealth LLC’s holdings in GE Vernova were worth $555,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the period. Sivia Capital Partners LLC raised its position in shares of GE Vernova by 96.1% during the first quarter. Sivia Capital Partners LLC now owns 1,255 shares of the company’s stock worth $383,000 after purchasing an additional 615 shares during the period. Orrstown Financial Services Inc. raised its position in GE Vernova by 36.3% in the 1st quarter. Orrstown Financial Services Inc. now owns 2,755 shares of the company’s stock valued at $841,000 after buying an additional 734 shares during the last quarter. Wedmont Private Capital raised its position in GE Vernova by 3.0% in the 1st quarter. Wedmont Private Capital now owns 4,263 shares of the company’s stock valued at $1,370,000 after buying an additional 126 shares during the last quarter. Finally, UMB Bank n.a. raised its position in GE Vernova by 9.7% in the 1st quarter. UMB Bank n.a. now owns 2,129 shares of the company’s stock valued at $650,000 after buying an additional 189 shares during the last quarter.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

GE Vernova Stock Performance

Shares of GEV opened at $595.07 on Monday. The business has a 50-day moving average of $623.21 and a 200 day moving average of $501.17. 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 $161.99 billion, a P/E ratio of 143.39, a price-to-earnings-growth ratio of 4.33 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Analyst Ratings Changes

A number of equities research analysts recently commented on GEV shares. Guggenheim lowered GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research note on Monday, September 15th. Robert W. Baird upped their price objective on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. TD Cowen upped their price objective on GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Morgan Stanley upped their price objective on GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $598.50.

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.