GE Vernova Inc. $GEV Shares Bought by Park National Corp OH

Key Points

• Park National Corp OH increased its stake in GE Vernova Inc. by 86.3% during the second quarter, acquiring 36,083 shares and making it their 17th largest holding.
• Various hedge funds made significant transactions in GE Vernova, with GAMMA Investing LLC growing its position by over 32,000% in the first quarter, now holding 2,141,539 shares.
• GE Vernova reported $1.86 earnings per share (EPS) for the last quarter, exceeding estimates, with revenue growth of 11.1% year-over-year, and set its FY 2025 EPS guidance.

Park National Corp OH grew its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 86.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,886 shares of the company's stock after buying an additional 36,083 shares during the period. GE Vernova makes up about 1.4% of Park National Corp OH's holdings, making the stock its 17th biggest holding. Park National Corp OH's holdings in GE Vernova were worth $41,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company's stock valued at $7,446,577,000 after purchasing an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of GE Vernova by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company's stock worth $955,513,000 after acquiring an additional 214,483 shares in the last quarter. GAMMA Investing LLC grew its position in GE Vernova by 32,984.2% during the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in GE Vernova by 21.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company's stock valued at $634,984,000 after purchasing an additional 367,150 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of GE Vernova by 50.9% during the 1st quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company's stock valued at $619,703,000 after acquiring an additional 684,794 shares during the last quarter.

Analyst Ratings Changes

GEV has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Barclays lifted their price objective on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Melius raised shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a research note on Monday. HSBC upped their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Finally, Glj Research started coverage on shares of GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Trading Up 0.4%

GEV traded up $2.54 during trading on Monday, hitting $628.09. The company's stock had a trading volume of 1,849,780 shares, compared to its average volume of 3,502,302. The business's fifty day simple moving average is $608.65 and its 200 day simple moving average is $469.09. GE Vernova Inc. has a twelve month low of $225.24 and a twelve month high of $677.29. The firm has a market capitalization of $170.98 billion, a price-to-earnings ratio of 151.35, a P/E/G ratio of 4.32 and a beta of 1.88.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations 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 for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business's stock in a transaction dated 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by corporate 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.