Parkside Financial Bank & Trust Acquires 996 Shares of GE Vernova Inc. $GEV

by · The Markets Daily

Parkside Financial Bank & Trust raised its holdings in GE Vernova Inc. (NYSE:GEV – Free Report) by 67.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,480 shares of the company’s stock after acquiring an additional 996 shares during the quarter. Parkside Financial Bank & Trust’s holdings in GE Vernova were worth $1,312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the first quarter valued at approximately $27,000. WFA Asset Management Corp bought a new position in shares of GE Vernova in the 2nd quarter worth $29,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC bought a new stake in shares of GE Vernova during the 1st quarter worth $31,000. Finally, Saudi Central Bank purchased a new position in GE Vernova in the first quarter worth $33,000.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by insiders.

GE Vernova Stock Performance

NYSE:GEV opened at $575.61 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm has a market cap of $156.18 billion, a PE ratio of 93.75, a price-to-earnings-growth ratio of 4.09 and a beta of 1.68. The business has a 50 day moving average price of $602.58 and a 200-day moving average price of $548.30.

GE Vernova (NYSE:GEV – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 EPS 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 the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. TD Cowen decreased their price objective on GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. HSBC boosted their target price on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. UBS Group set a $710.00 price target on shares of GE Vernova in a research report on Thursday, October 23rd. Finally, Citigroup decreased their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $607.81.

Read Our Latest Stock Report on GEV

GE Vernova Company Profile

(Free Report)

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.

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