GE Vernova Inc. $GEV Shares Sold by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department decreased its position in GE Vernova Inc. by 27.7% in the 2nd quarter, holding 1,093 shares worth approximately $578,000 after selling 418 shares.
• Insider CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock for about $2.05 million, resulting in a 30.30% decrease in his ownership.
• Analysts have recently upgraded GE Vernova's stock ratings, with Barclays raising the target price from $580 to $706, and multiple firms assigning a "buy" or "strong-buy" rating.

Mechanics Bank Trust Department reduced its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 27.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,093 shares of the company's stock after selling 418 shares during the quarter. Mechanics Bank Trust Department's holdings in GE Vernova were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Atlas Brown Inc. lifted its position in GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after buying an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. lifted its holdings in shares of GE Vernova by 9.0% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after acquiring an additional 20 shares in the last quarter. Grove Bank & Trust boosted its position in GE Vernova by 16.0% during the 2nd quarter. Grove Bank & Trust now owns 167 shares of the company's stock worth $88,000 after purchasing an additional 23 shares during the period. Westover Capital Advisors LLC increased its holdings in GE Vernova by 2.3% in the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after purchasing an additional 25 shares in the last quarter. Finally, SVB Wealth LLC lifted its stake in shares of GE Vernova by 0.7% during the first quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock worth $1,094,000 after purchasing an additional 26 shares in the last quarter.

Insider Activity 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. Insiders own 0.15% of the company's stock.

GE Vernova Price Performance

Shares of NYSE GEV opened at $643.67 on Tuesday. The firm has a market capitalization of $175.22 billion, a PE ratio of 155.10, a P/E/G ratio of 4.55 and a beta of 1.88. GE Vernova Inc. has a 1-year low of $246.79 and a 1-year high of $677.29. The business's fifty day moving average price is $618.88 and its two-hundred day moving average price is $482.23.

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 the consensus estimate of $1.63 by $0.23. The business had revenue of $9.11 billion during 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 company's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Equities research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GEV. Barclays increased their target price on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Melius upgraded shares of GE Vernova from a "hold" rating to a "buy" rating and set a $740.00 target price for the company in a research note on Monday, September 15th. UBS Group started coverage on shares of GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 price target for the company. 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 report on Thursday, July 17th. Finally, Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. 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. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and an average 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.

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