GE Vernova Inc. $GEV Shares Sold by Fiduciary Alliance LLC

Key Points

• Fiduciary Alliance LLC has reduced its holdings in GE Vernova Inc. by 29.0%, now owning 2,587 shares worth approximately $1.37 million.
• GE Vernova recently reported strong quarterly earnings, with EPS of $1.86, exceeding analyst expectations and posting revenue of $9.11 billion, a rise of 11.1% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, which corresponds to an annualized yield of 0.2% and a payout ratio of 24.10%.

Fiduciary Alliance LLC decreased its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 29.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,587 shares of the company's stock after selling 1,059 shares during the quarter. Fiduciary Alliance LLC's holdings in GE Vernova were worth $1,369,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new position in GE Vernova in the 1st quarter worth about $27,000. Orion Capital Management LLC acquired a new position in GE Vernova in the 4th quarter worth about $30,000. EQ Wealth Advisors LLC acquired a new position in GE Vernova in the 1st quarter worth about $27,000. 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 worth $30,000 after purchasing an additional 53 shares during the period. Finally, 1248 Management LLC acquired a new position in GE Vernova in the 1st quarter worth about $31,000.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $618.28 on Wednesday. The firm has a market capitalization of $168.31 billion, a price-to-earnings ratio of 148.98, a PEG ratio of 4.35 and a beta of 1.87. GE Vernova Inc. has a fifty-two week low of $233.51 and a fifty-two week high of $677.29. The stock has a 50 day moving average of $612.36 and a 200 day moving average of $472.16.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $8.78 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. The firm's revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. Analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction on 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents 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 available at the SEC website. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on GEV shares. Mizuho lowered 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. 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 note on Thursday, July 24th. Wells Fargo & Company boosted their price objective on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets boosted their price objective on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, HSBC boosted their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Four analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and a consensus target price of $592.35.

About GE Vernova

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.