GE Vernova Inc. $GEV is Trustco Bank Corp N Y’s 7th Largest Position

Trustco Bank Corp N Y cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 9.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,491 shares of the company’s stock after selling 712 shares during the quarter. GE Vernova comprises 3.8% of Trustco Bank Corp N Y’s portfolio, making the stock its 7th biggest position. Trustco Bank Corp N Y’s holdings in GE Vernova were worth $4,242,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. TritonPoint Partners LLC purchased a new position in GE Vernova during the 4th quarter worth approximately $857,000. Wilmar Advisors LLC purchased a new position in GE Vernova during the 4th quarter worth approximately $980,000. Vanguard Personalized Indexing Management LLC raised its position in GE Vernova by 4.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,197 shares of the company’s stock worth $26,272,000 after buying an additional 1,859 shares during the last quarter. Venture Visionary Partners LLC raised its position in GE Vernova by 53.6% during the 4th quarter. Venture Visionary Partners LLC now owns 7,291 shares of the company’s stock worth $4,777,000 after buying an additional 2,543 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in GE Vernova by 60.5% during the 4th quarter. Verition Fund Management LLC now owns 19,617 shares of the company’s stock worth $12,821,000 after buying an additional 7,391 shares during the last quarter.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GEV has been the subject of several recent research reports. Guggenheim lifted their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a report on Monday, April 27th. Morgan Stanley lifted their target price on shares of GE Vernova from $817.00 to $960.00 and gave the company an “overweight” rating in a report on Monday, March 23rd. Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Zacks Research lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,085.16.

GE Vernova Price Performance

NYSE:GEV opened at $940.14 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm has a market cap of $252.63 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.24. The company has a 50 day moving average price of $1,008.85 and a 200-day moving average price of $833.50. GE Vernova Inc. has a 1-year low of $474.21 and a 1-year high of $1,181.95.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.