Union Savings Bank Buys 351 Shares of GE Vernova Inc. $GEV
by Scott Moore · The Cerbat GemUnion Savings Bank grew its stake in shares of GE Vernova Inc. (NYSE:GEV – Free Report) by 113.6% in the second quarter, HoldingsChannel.com reports. The firm owned 660 shares of the company’s stock after buying an additional 351 shares during the quarter. Union Savings Bank’s holdings in GE Vernova were worth $349,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. WFA Asset Management Corp purchased a new stake in GE Vernova during the 2nd quarter valued at $29,000. Highline Wealth Partners LLC raised its stake in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of GE Vernova during the second quarter valued at about $37,000. Advantage Trust Co purchased a new stake in shares of GE Vernova during the second quarter worth about $40,000. Finally, Solstein Capital LLC bought a new stake in shares of GE Vernova in the second quarter worth about $44,000.
Insider Buying and Selling
In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research firms have commented on GEV. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research note on Wednesday, October 8th. Glj Research raised their price target on GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada lifted their price target on shares of GE Vernova from $605.00 to $630.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company upped their price objective on shares of 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 given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $607.81.
View Our Latest Stock Analysis on GEV
GE Vernova Stock Up 3.5%
NYSE GEV opened at $577.64 on Friday. The firm has a market capitalization of $156.72 billion, a PE ratio of 94.08, a P/E/G ratio of 4.15 and a beta of 1.68. The stock’s 50 day moving average is $600.86 and its 200 day moving average is $555.94. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29.
GE Vernova (NYSE:GEV – Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the business posted ($0.35) EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.
GE Vernova Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) 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.
Read More
- Five stocks we like better than GE Vernova
- Business Services Stocks Investing
- Your Thanksgiving Playbook: 3 Stocks Set to Benefit From Football Fever
- What is MarketRank™? How to Use it
- MarketBeat Week in Review – 11/10 – 11/14
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- Are These 3 Oversold Tech Giants Ready to Rebound?
Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV – Free Report).