Atria Wealth Solutions Inc. Sells 5,964 Shares of GE Vernova Inc. $GEV

Key Points

• Atria Wealth Solutions Inc. reduced its stake in GE Vernova Inc. by 53.3%, selling 5,964 shares and now holding 5,226 shares valued at approximately $2.74 million.
• GE Vernova's recent quarterly earnings beat expectations, reporting an EPS of $1.86 and revenue of $9.11 billion, marking an 11.1% increase from the previous year.
• The company announced a quarterly dividend of $0.25 per share, with an annualized yield of 0.2%, to be paid on November 17th to investors on record by October 20th.

Atria Wealth Solutions Inc. trimmed its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 53.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,226 shares of the company's stock after selling 5,964 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in GE Vernova were worth $2,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of GEV. Brighton Jones LLC grew its position in GE Vernova by 29.4% during the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. GAMMA Investing LLC grew its position in GE Vernova by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company's stock valued at $2,142,000 after purchasing an additional 542 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in GE Vernova by 79.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 221,507 shares of the company's stock valued at $67,622,000 after purchasing an additional 98,034 shares during the last quarter. Ritholtz Wealth Management grew its position in GE Vernova by 17.7% during the 1st quarter. Ritholtz Wealth Management now owns 4,757 shares of the company's stock valued at $1,452,000 after purchasing an additional 716 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its position in GE Vernova by 98.2% during the 1st quarter. Hanson & Doremus Investment Management now owns 1,320 shares of the company's stock valued at $403,000 after purchasing an additional 654 shares during the last quarter.

GE Vernova Stock Down 0.6%

Shares of NYSE GEV opened at $644.54 on Wednesday. The firm's 50-day moving average price is $619.21 and its 200-day moving average price is $514.56. The company has a market cap of $175.46 billion, a PE ratio of 155.31, a PEG ratio of 4.69 and a beta of 1.72. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 earnings per share. 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 fiscal year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors 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 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GEV. Bank of America increased their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. BMO Capital Markets increased their price objective on shares of GE Vernova from $590.00 to $690.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Seaport Res Ptn raised shares of GE Vernova to a "strong-buy" rating in a report on Thursday, July 10th. Finally, Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a "buy" rating in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $598.65.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company's stock.

GE Vernova Company 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.

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