First National Bank Sioux Falls Purchases Shares of 419 GE Vernova Inc. $GEV

Key Points

• First National Bank Sioux Falls acquired 419 shares of GE Vernova Inc. for approximately $222,000 in the 2nd quarter, marking a significant institutional investment in the company.
• GE Vernova reported strong earnings for the previous quarter, with an earnings per share of $1.86, exceeding analysts' expectations of $1.63.
• The company has recently announced a quarterly dividend of $0.25, resulting in a 0.2% dividend yield, which reflects a 24.10% dividend payout ratio.

First National Bank Sioux Falls purchased a new stake in GE Vernova Inc. (NYSE:GEV - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 419 shares of the company's stock, valued at approximately $222,000.

Other institutional investors also recently bought and sold shares of the company. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter valued at $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova in the 1st quarter valued at $27,000. Orion Capital Management LLC acquired a new position in GE Vernova in the 4th quarter valued at $30,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock valued at $30,000 after acquiring an additional 53 shares during the last quarter. Finally, 1248 Management LLC acquired a new position in GE Vernova in the 1st quarter valued at $31,000.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company'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 completion of the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

GE Vernova Trading Down 1.3%

Shares of NYSE GEV opened at $625.99 on Friday. The stock has a fifty day moving average price of $608.65 and a 200 day moving average price of $467.18. GE Vernova Inc. has a 12-month low of $219.01 and a 12-month high of $677.29. The company has a market cap of $170.41 billion, a P/E ratio of 150.84, a P/E/G ratio of 4.38 and a beta of 1.87.

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

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is presently 24.10%.

Analysts Set New Price Targets

Several research analysts have weighed in on GEV shares. Mizuho downgraded GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target for the company. in a report on Monday, July 28th. UBS Group began coverage on GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 price objective for the company. BMO Capital Markets upped their price objective on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Wolfe Research downgraded GE Vernova from an "outperform" rating to a "peer perform" rating in a report on Friday, June 13th. Finally, JPMorgan Chase & Co. upped their price objective on GE Vernova from $620.00 to $715.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and a consensus target price of $580.04.

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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