GE Vernova Inc. $GEV Shares Sold by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA lessened its stake in shares of GE Vernova Inc. (NYSE:GEV) by 76.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 706 shares of the company’s stock after selling 2,326 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in GE Vernova were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GEV. AQR Capital Management LLC increased its stake in shares of GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares during the period. Amundi boosted its holdings in GE Vernova by 109.0% during the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after buying an additional 868,927 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in GE Vernova by 10,044.9% during the second quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock worth $445,773,000 after buying an additional 834,129 shares in the last quarter. TD Asset Management Inc boosted its holdings in GE Vernova by 627.2% during the first quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after buying an additional 799,388 shares in the last quarter. Finally, Nuveen LLC bought a new stake in GE Vernova during the first quarter worth approximately $223,556,000.

Analyst Ratings Changes

A number of analysts recently weighed in on GEV shares. Morgan Stanley raised their target price on shares of GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Citigroup raised their target price on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Robert W. Baird raised their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They set a “buy” rating and a $614.00 target price for the company. Finally, TD Cowen raised their target price on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $598.50.

Insider Activity

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction 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 completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by company insiders.

GE Vernova Stock Down 4.4%

Shares of NYSE:GEV opened at $606.30 on Friday. The firm has a fifty day moving average of $619.64 and a two-hundred day moving average of $509.80. The firm has a market capitalization of $165.05 billion, a P/E ratio of 146.10, a price-to-earnings-growth ratio of 4.40 and a beta of 1.72. 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 earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 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.