GE Vernova Inc. $GEV Shares Purchased by Central Pacific Bank Trust Division

Key Points

• Central Pacific Bank Trust Division increased its stake in GE Vernova Inc. by 646.1% in Q2, owning 1,798 shares valued at approximately $951,000.
• GE Vernova reported $1.86 earnings per share for the quarter, surpassing estimates, with a revenue of $9.11 billion, up 11.1% year-over-year.
• The company's recent quarterly dividend was $0.25, reflecting a 0.2% yield and a payout ratio of 24.10%.

Central Pacific Bank Trust Division increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 646.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,798 shares of the company's stock after purchasing an additional 1,557 shares during the period. Central Pacific Bank Trust Division's holdings in GE Vernova were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GEV. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the 1st quarter worth about $27,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth about $27,000. Orion Capital Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth about $30,000. Mowery & Schoenfeld Wealth Management LLC raised its position in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after purchasing an additional 53 shares during the last quarter. Finally, 1248 Management LLC acquired a new position in shares of GE Vernova during the 1st quarter worth about $31,000.

GE Vernova Price Performance

NYSE:GEV opened at $625.99 on Friday. The firm has a market capitalization of $170.41 billion, a price-to-earnings ratio of 150.84, a PEG ratio of 4.38 and a beta of 1.87. The company's 50-day moving average is $608.65 and its two-hundred day moving average is $468.10. GE Vernova Inc. has a 1-year low of $219.01 and a 1-year high of $677.29.

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

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were issued a $0.25 dividend. 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 dividend payout ratio is currently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. Royal Bank Of Canada restated an "outperform" rating on shares of GE Vernova in a research report on Thursday, July 24th. Bank of America upped their price objective on shares of GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Robert W. Baird upped their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Susquehanna upped their price objective on shares of GE Vernova from $662.00 to $736.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Finally, Wolfe Research cut shares of GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and a consensus price target of $580.04.

GE Vernova Company 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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