FARMERS & MERCHANTS TRUST Co OF LONG BEACH Buys Shares of 558 GE Vernova Inc. $GEV

Key Points

• Farmers & Merchants Trust Co of Long Beach acquired 558 shares of GE Vernova Inc., valued at approximately $295,000, during the second quarter.
• Analysts have given GE Vernova a generally positive outlook, with multiple firms issuing "buy" ratings and increasing price targets, including Goldman Sachs raising it to $570.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 0.2% and a payout ratio of 24.10%.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 558 shares of the company's stock, valued at approximately $295,000.

Several other large investors also recently bought and sold shares of GEV. Brighton Jones LLC grew its holdings in GE Vernova by 29.4% in the fourth 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. First Hawaiian Bank acquired a new stake in shares of GE Vernova during the first quarter valued at $341,000. Rhumbline Advisers boosted its stake in shares of GE Vernova by 3.9% during the first quarter. Rhumbline Advisers now owns 485,232 shares of the company's stock valued at $148,132,000 after acquiring an additional 18,369 shares during the last quarter. Mechanics Bank Trust Department boosted its stake in shares of GE Vernova by 23.8% during the first quarter. Mechanics Bank Trust Department now owns 1,511 shares of the company's stock valued at $461,000 after acquiring an additional 290 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in shares of GE Vernova by 9.3% during the first quarter. 180 Wealth Advisors LLC now owns 1,760 shares of the company's stock valued at $537,000 after acquiring an additional 150 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group increased their price objective on GE Vernova from $500.00 to $570.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. Glj Research assumed coverage on GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating on the stock. TD Cowen increased their price objective on GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Finally, UBS Group assumed coverage on GE Vernova in a research note on Monday, July 7th. They set a "buy" rating and a $614.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $592.35.

GE Vernova Trading Down 0.7%

Shares of NYSE:GEV opened at $600.66 on Tuesday. The stock's 50-day moving average price is $623.69 and its two-hundred day moving average price is $493.48. GE Vernova Inc. has a 12-month low of $248.50 and a 12-month high of $677.29. The firm has a market cap of $163.51 billion, a price-to-earnings ratio of 144.74, a PEG ratio of 4.41 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results 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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the company earned $4.65 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts forecast 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 will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a $0.25 dividend. 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 (DPR) is 24.10%.

Insider Activity at GE Vernova

In other 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.