Huntington National Bank Sells 573 Shares of GE Vernova Inc. $GEV

Huntington National Bank lessened its position in GE Vernova Inc. (NYSE:GEV) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,477 shares of the company’s stock after selling 573 shares during the quarter. Huntington National Bank’s holdings in GE Vernova were worth $14,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GEV. Brighton Jones LLC increased its stake in GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after acquiring an additional 753 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in GE Vernova by 91.5% in the first quarter. Concurrent Investment Advisors LLC now owns 6,009 shares of the company’s stock valued at $1,834,000 after acquiring an additional 2,871 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in GE Vernova by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 421,454 shares of the company’s stock valued at $128,662,000 after acquiring an additional 10,951 shares during the last quarter. TD Private Client Wealth LLC increased its stake in GE Vernova by 153.3% in the first quarter. TD Private Client Wealth LLC now owns 9,545 shares of the company’s stock valued at $2,914,000 after acquiring an additional 5,776 shares during the last quarter. Finally, Callan Capital LLC increased its stake in GE Vernova by 8.6% in the first quarter. Callan Capital LLC now owns 850 shares of the company’s stock valued at $259,000 after acquiring an additional 67 shares during the last quarter.

GE Vernova Trading Down 5.8%

GE Vernova stock opened at $547.41 on Wednesday. The firm has a 50-day moving average of $606.31 and a 200-day moving average of $546.36. The firm has a market cap of $148.52 billion, a P/E ratio of 89.16, a P/E/G ratio of 4.32 and a beta of 1.68. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Research analysts forecast 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio is currently 16.29%.

Insider Buying and Selling at GE Vernova

In other 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 transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Melius Research set a $740.00 target price on GE Vernova and gave the company a “buy” rating in a research note on Monday, September 15th. TD Cowen cut their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Morgan Stanley upped their price target on shares of GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, HSBC upped their price target on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.

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.