Ballentine Partners LLC Sells 435 Shares of GE Vernova Inc. $GEV

Key Points

• Ballentine Partners LLC sold 435 shares of GE Vernova Inc., reducing its holdings by 8.5%, and now owns 4,694 shares valued at approximately $2.48 million.
• GE Vernova reported earnings per share (EPS) of $1.86 for the last quarter, exceeding analysts' expectations, with a revenue of $9.11 billion.
• Several brokerages have increased their price targets for GE Vernova, with Bank of America raising it from $550 to $620 and giving the stock a "buy" rating.

Ballentine Partners LLC trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 8.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,694 shares of the company's stock after selling 435 shares during the period. Ballentine Partners LLC's holdings in GE Vernova were worth $2,484,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of GEV. Atlas Brown Inc. raised its position in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock worth $1,321,000 after purchasing an additional 19 shares during the period. Physician Wealth Advisors Inc. raised its position in shares of GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock worth $128,000 after purchasing an additional 20 shares during the period. Grove Bank & Trust raised its position in shares of GE Vernova by 16.0% during the second quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares during the period. Westover Capital Advisors LLC raised its position in shares of GE Vernova by 2.3% during the first quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock worth $345,000 after purchasing an additional 25 shares during the period. Finally, SVB Wealth LLC raised its position in shares of GE Vernova by 0.7% during the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after purchasing an additional 26 shares during the period.

GE Vernova Price Performance

Shares of NYSE:GEV opened at $628.11 on Thursday. The company has a market capitalization of $170.98 billion, a PE ratio of 151.35, a price-to-earnings-growth ratio of 4.62 and a beta of 1.87. The business has a fifty day moving average price of $621.67 and a two-hundred day moving average price of $484.28. GE Vernova Inc. has a 1 year low of $247.07 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GEV. Bank of America upped their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. HSBC increased their price target on GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research report on Friday, September 5th. Citigroup increased their price target on GE Vernova from $544.00 to $670.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Melius Research set a $740.00 price target on GE Vernova and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Robert W. Baird increased their price target on GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $592.35.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company's stock.

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.

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