CENTRAL TRUST Co Sells 1,663 Shares of GE Vernova Inc. (NYSE:GEV)

CENTRAL TRUST Co lowered its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 16.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,209 shares of the company's stock after selling 1,663 shares during the period. CENTRAL TRUST Co's holdings in GE Vernova were worth $2,506,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Rakuten Securities Inc. raised its stake in GE Vernova by 147.8% during the 1st quarter. Rakuten Securities Inc. now owns 726 shares of the company's stock valued at $222,000 after purchasing an additional 433 shares during the period. Insigneo Advisory Services LLC raised its stake in GE Vernova by 98.5% during the 1st quarter. Insigneo Advisory Services LLC now owns 1,626 shares of the company's stock valued at $496,000 after purchasing an additional 807 shares during the period. Chicago Capital LLC raised its stake in GE Vernova by 1.9% during the 1st quarter. Chicago Capital LLC now owns 5,197 shares of the company's stock valued at $1,587,000 after purchasing an additional 96 shares during the period. Vivid Wealth Management LLC acquired a new stake in GE Vernova during the 1st quarter valued at $2,107,000. Finally, WD Rutherford LLC raised its stake in GE Vernova by 148.5% during the 1st quarter. WD Rutherford LLC now owns 4,309 shares of the company's stock valued at $1,416,000 after purchasing an additional 2,575 shares during the period.

Analyst Ratings Changes

Several analysts have issued reports on GEV shares. Barclays boosted their target price on shares of GE Vernova from $500.00 to $550.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Royal Bank Of Canada lowered their price target on shares of GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Bank of America boosted their price target on shares of GE Vernova from $520.00 to $550.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Eight research analysts have rated the stock with a hold rating, nineteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $404.56.

GE Vernova Trading Up 0.3%

NYSE:GEV traded up $1.46 during mid-day trading on Thursday, hitting $490.12. The company's stock had a trading volume of 2,239,101 shares, compared to its average volume of 3,269,642. GE Vernova Inc. has a fifty-two week low of $150.01 and a fifty-two week high of $500.72. The company has a market capitalization of $133.77 billion, a price-to-earnings ratio of 70.62, a P/E/G ratio of 3.81 and a beta of 1.97. The stock has a fifty day moving average of $418.66 and a 200-day moving average of $368.60.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The firm had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.56 billion. GE Vernova had a net margin of 5.42% and a return on equity of 10.10%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.47) earnings per share. On average, equities analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, April 17th. GE Vernova's payout ratio is 14.41%.

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.