ZWJ Investment Counsel Inc. Cuts Position in GE Vernova Inc. $GEV

ZWJ Investment Counsel Inc. cut its stake in GE Vernova Inc. (NYSE:GEV) by 31.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,657 shares of the company’s stock after selling 1,201 shares during the period. ZWJ Investment Counsel Inc.’s holdings in GE Vernova were worth $1,406,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova in the first quarter worth $912,000. Pines Wealth Management LLC purchased a new stake in GE Vernova during the second quarter valued at about $408,000. Resona Asset Management Co. Ltd. boosted its position in GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after buying an additional 6,551 shares during the period. Lockheed Martin Investment Management Co. purchased a new stake in GE Vernova during the first quarter valued at about $458,000. Finally, Golden State Wealth Management LLC boosted its position in GE Vernova by 201.7% during the first quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock valued at $373,000 after buying an additional 817 shares during the period.

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 shares were 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 directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GEV shares. TD Cowen upped their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Jefferies Financial Group upped their price target on shares of GE Vernova from $658.00 to $668.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Finally, Bank of America upped their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $598.50.

GE Vernova Trading Down 1.8%

Shares of NYSE:GEV opened at $595.07 on Friday. The company has a market cap of $161.99 billion, a price-to-earnings ratio of 143.39, a price-to-earnings-growth ratio of 4.42 and a beta of 1.72. The company has a 50-day moving average price of $623.21 and a 200-day moving average price of $498.89. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

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

GE Vernova Company 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.