GE Vernova Inc. $GEV Shares Sold by Essex LLC

Key Points

• Essex LLC reduced its holdings in GE Vernova Inc. by 19.7% in the second quarter, after selling 798 shares, bringing their total to 3,260 shares valued at approximately $1,725,000.
• Analysts have varying ratings on GE Vernova, with a consensus rating of "Moderate Buy" and an average price target of $598.65, reflecting optimism about the company's growth potential in the energy sector.
• GE Vernova's CFO sold 3,300 shares at around $620.00 per share, resulting in a significant decrease in their ownership, indicating potential insider concerns about stock performance.

Essex LLC cut its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 19.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,260 shares of the company's stock after selling 798 shares during the quarter. Essex LLC's holdings in GE Vernova were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sachetta LLC increased its position in shares of GE Vernova by 10.7% during the second quarter. Sachetta LLC now owns 165 shares of the company's stock valued at $87,000 after acquiring an additional 16 shares during the last quarter. Highline Wealth Partners LLC boosted its position in shares of GE Vernova by 34.6% during the 2nd quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock worth $37,000 after purchasing an additional 18 shares during the period. Atlas Brown Inc. increased its holdings in GE Vernova by 0.8% in the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after purchasing an additional 19 shares during the last quarter. Physician Wealth Advisors Inc. raised its position in GE Vernova by 9.0% in the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after purchasing an additional 20 shares during the period. Finally, West Branch Capital LLC raised its position in GE Vernova by 25.6% in the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after purchasing an additional 20 shares during the period.

Analyst Ratings Changes

Several research analysts have recently commented on GEV shares. Citigroup raised their price target on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Jefferies Financial Group raised their target price on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a report on Friday, September 12th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price objective for the company. in a research note on Monday, July 28th. Finally, Royal Bank Of Canada set a $605.00 price objective on shares of GE Vernova and gave the company a "sector perform" rating in a report on Wednesday, October 1st. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $598.65.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.15% of the company's stock.

GE Vernova Price Performance

GEV stock opened at $644.54 on Wednesday. The business's 50-day moving average is $619.21 and its two-hundred day moving average is $514.56. The firm has a market capitalization of $175.46 billion, a P/E ratio of 155.31, a P/E/G ratio of 4.69 and a beta of 1.72. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The firm 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%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts expect that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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 presently 24.10%.

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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