GE Vernova Inc. $GEV Shares Purchased by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB increased its stake in GE Vernova Inc. by 10.8%, bringing its total holdings to 9,759 shares valued at approximately $5,164,000.
• Several institutional investors have also made significant investments in GE Vernova, with multiple firms acquiring new positions worth around $27,000 to $33,000 in the first quarter alone.
• GE Vernova recently declared a quarterly dividend of $0.25 per share, set to be paid on November 17th, representing a 0.2% yield.

Wilmington Savings Fund Society FSB increased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 10.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,759 shares of the company's stock after purchasing an additional 950 shares during the period. Wilmington Savings Fund Society FSB's holdings in GE Vernova were worth $5,164,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the first quarter worth $27,000. IMA Advisory Services Inc. acquired a new position in GE Vernova during the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in GE Vernova by 115.2% during 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 period. 1248 Management LLC purchased a new stake in GE Vernova during the first quarter worth about $31,000. Finally, Saudi Central Bank acquired a new stake in shares of GE Vernova during the first quarter worth about $33,000.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of research reports. Barclays increased their target price on shares of GE Vernova from $580.00 to $706.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company increased their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price objective on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Guggenheim cut shares of GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Finally, Glj Research assumed coverage on shares of GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $598.65.

GE Vernova Stock Down 0.6%

GEV stock opened at $644.54 on Wednesday. The business has a 50 day moving average price of $619.21 and a 200 day moving average price of $514.56. The stock has a market cap of $175.46 billion, a price-to-earnings ratio of 155.31, a PEG ratio of 4.69 and a beta of 1.72. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29.

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

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

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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