GE Vernova Inc. $GEV Shares Sold by S Bank Fund Management Ltd

Key Points

• S Bank Fund Management Ltd reduced its stake in GE Vernova Inc. (NYSE:GEV) by 6.7% during the 2nd quarter, now holding 9,000 shares valued at approximately $4.76 million.
• Analysts have varied opinions on GEV, with Guggenheim downgrading the stock from "buy" to "neutral," while Bank of America raised its target price from $550 to $620 with a "buy" rating.
• The company announced a quarterly dividend of $0.25 per share, which will be payable on November 17th, representing an annualized dividend yield of 0.2%.

S Bank Fund Management Ltd trimmed its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,000 shares of the company's stock after selling 644 shares during the quarter. S Bank Fund Management Ltd's holdings in GE Vernova were worth $4,762,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GEV. EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the 1st quarter worth approximately $27,000. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the 1st quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC grew 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 valued at $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC purchased a new stake in GE Vernova in the 1st quarter valued at $31,000. Finally, Saudi Central Bank purchased a new position in shares of GE Vernova during the 1st quarter worth $33,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GEV shares. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Seaport Res Ptn raised GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Rothschild Redb downgraded GE Vernova from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, GE Vernova has an average rating of "Moderate Buy" and an average target price of $592.07.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business's 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 completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by company insiders.

GE Vernova Price Performance

GE Vernova stock opened at $617.78 on Thursday. The stock's 50 day moving average price is $618.29 and its 200 day moving average price is $515.27. The company has a market cap of $168.17 billion, a PE ratio of 148.86, a price-to-earnings-growth ratio of 4.67 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 issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.GE Vernova's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business 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 $0.25 dividend. 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%.

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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