WASHINGTON TRUST Co Has $721,000 Stock Position in GE Vernova Inc. $GEV

WASHINGTON TRUST Co lowered its position in GE Vernova Inc. (NYSE:GEV) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,363 shares of the company’s stock after selling 94 shares during the quarter. WASHINGTON TRUST Co’s holdings in GE Vernova were worth $721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. D Orazio & Associates Inc. acquired a new stake in shares of GE Vernova during the 2nd quarter valued at about $246,000. First Western Trust Bank raised its position in GE Vernova by 16.0% during the second quarter. First Western Trust Bank now owns 2,870 shares of the company’s stock valued at $1,519,000 after acquiring an additional 395 shares in the last quarter. ABN Amro Investment Solutions acquired a new stake in GE Vernova in the second quarter valued at approximately $2,855,000. Cherokee Insurance Co bought a new stake in GE Vernova in the second quarter worth approximately $347,000. Finally, Breed s Hill Capital LLC increased its stake in shares of GE Vernova by 1.9% during the 2nd quarter. Breed s Hill Capital LLC now owns 1,120 shares of the company’s stock worth $593,000 after purchasing an additional 21 shares during the last quarter.

Analyst Ratings Changes

GEV has been the subject of a number of recent research reports. BMO Capital Markets upped their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Rothschild Redb cut GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Citigroup cut their price objective on GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company boosted their target price on GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $607.81.

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 that occurred on 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 sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by company insiders.

GE Vernova Price Performance

NYSE:GEV opened at $558.62 on Friday. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The company has a fifty day moving average price of $600.95 and a 200 day moving average price of $554.50. The stock has a market cap of $151.56 billion, a P/E ratio of 90.98, a PEG ratio of 4.28 and a beta of 1.68.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.08). The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio is 16.29%.

GE Vernova 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.