Advantage Trust Co Acquires New Holdings in GE Vernova Inc. $GEV

Advantage Trust Co bought a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, Holdings Channel.com reports. The fund bought 75 shares of the company’s stock, valued at approximately $40,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in GE Vernova in the 1st quarter valued at approximately $912,000. Pines Wealth Management LLC acquired a new stake in shares of GE Vernova during the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. grew its holdings in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after purchasing an additional 6,551 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new stake in shares of GE Vernova during the 1st quarter worth approximately $458,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after purchasing an additional 817 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Redburn Partners set a $475.00 price objective on GE Vernova in a report on Wednesday, October 15th. Barclays lifted their price objective on GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Mizuho raised their target price on GE Vernova from $670.00 to $677.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Finally, TD Cowen raised their target price on GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $601.44.

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 on Tuesday, August 26th. The stock was 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 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 SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.

GE Vernova Stock Down 0.9%

Shares of NYSE:GEV opened at $594.46 on Tuesday. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company’s 50-day moving average price is $615.29 and its two-hundred day moving average price is $524.40. The firm has a market cap of $161.82 billion, a P/E ratio of 143.24, a P/E/G ratio of 4.34 and a beta of 1.72.

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

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s 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.