GE Vernova Inc. $GEV Shares Sold by Lbp Am Sa

Key Points

• Lbp Am Sa reduced its stake in GE Vernova Inc. by 28% during the second quarter, now holding 75,294 shares valued at approximately $39.8 million.
• Despite some analysts downgrading their ratings, others have raised their price targets significantly, with forecasts now ranging from $675 to $706 per share.
• GE Vernova recently announced a quarterly dividend of $0.25 per share, with an annualized yield of 0.2% and a payout ratio of 24.10%.

Lbp Am Sa cut its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 28.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,294 shares of the company's stock after selling 29,245 shares during the period. Lbp Am Sa's holdings in GE Vernova were worth $39,842,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Highline Wealth Partners LLC grew its stake in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after acquiring an additional 18 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of GE Vernova during the second quarter valued at about $37,000. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova during the first quarter valued at about $27,000. EQ Wealth Advisors LLC acquired a new stake in shares of GE Vernova during the first quarter valued at about $27,000. Finally, West Branch Capital LLC grew its stake in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after acquiring an additional 20 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GEV. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Wells Fargo & Company lifted their price target on GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Robert W. Baird lifted their price target on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of GE Vernova in a research note on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Stock Up 2.0%

Shares of GEV stock opened at $614.57 on Wednesday. The business has a 50 day moving average of $625.00 and a two-hundred day moving average of $494.32. GE Vernova Inc. has a 52 week low of $248.50 and a 52 week high of $677.29. The company has a market cap of $167.30 billion, a P/E ratio of 148.09, a PEG ratio of 4.39 and a beta of 1.87.

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

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova's payout ratio is 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 sale, the chief financial officer owned 7,590 shares of the company's stock, 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company's stock.

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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