Wesbanco Bank Inc. Sells 510 Shares of GE Vernova Inc. $GEV

by · The Cerbat Gem

Wesbanco Bank Inc. lessened its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,867 shares of the company’s stock after selling 510 shares during the quarter. Wesbanco Bank Inc.’s holdings in GE Vernova were worth $10,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Financial Management LLC bought a new stake in GE Vernova during the 4th quarter valued at approximately $25,000. Wealth Watch Advisors INC bought a new position in GE Vernova in the 3rd quarter worth approximately $25,000. Torren Management LLC acquired a new position in shares of GE Vernova during the fourth quarter worth approximately $26,000. ORG Wealth Partners LLC lifted its holdings in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares during the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at approximately $27,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GEV shares. Morgan Stanley raised their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a research note on Monday, March 23rd. BMO Capital Markets increased their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Argus set a $1,300.00 price target on shares of GE Vernova in a research report on Monday, April 27th. The Goldman Sachs Group restated a “buy” rating and set a $1,328.00 price objective on shares of GE Vernova in a report on Friday, April 24th. Finally, BNP Paribas Exane cut 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 research note on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,089.88.

Check Out Our Latest Stock Analysis on GEV

Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s 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 completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Trading Down 3.7%

Shares of GEV stock opened at $1,045.74 on Friday. The firm has a fifty day moving average of $1,031.16 and a 200-day moving average of $863.97. The stock has a market cap of $281.01 billion, a price-to-earnings ratio of 30.46, a P/E/G ratio of 4.02 and a beta of 1.23. GE Vernova Inc. has a 52-week low of $482.20 and a 52-week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV – Get Free Report) last issued 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. The business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. On average, equities research analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

GE Vernova Profile

(Free Report)

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.

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