GE Vernova Inc. $GEV Shares Sold by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. decreased its holdings in GE Vernova Inc. by 15.3% during Q2, selling 2,250 shares and bringing its total ownership to 12,442 shares worth approximately $6.58 million.
• GE Vernova has recently seen mixed reviews from analysts, with price targets ranging from $580.04 to $690.00, and various ratings including "Strong Buy," "Buy," and "Hold."
• In its latest quarterly earnings, GE Vernova reported an EPS of $1.86, exceeding expectations, and a revenue of $9.11 billion, marking a year-over-year increase of 11.1%.

Wesbanco Bank Inc. lowered its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 15.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,442 shares of the company's stock after selling 2,250 shares during the quarter. Wesbanco Bank Inc.'s holdings in GE Vernova were worth $6,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. purchased a new stake in GE Vernova in the first quarter valued at approximately $27,000. Orion Capital Management LLC purchased a new stake in GE Vernova in the fourth quarter valued at approximately $30,000. EQ Wealth Advisors LLC purchased a new stake in GE Vernova in the first quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in GE Vernova by 115.2% in the first 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 during the last quarter. Finally, 1248 Management LLC purchased a new stake in GE Vernova in the first quarter valued at approximately $31,000.

Insiders Place Their Bets

In related 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of research reports. Jefferies Financial Group boosted their price objective on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research note on Friday. Glj Research initiated coverage on GE Vernova in a research note on Monday, June 23rd. They issued a "buy" rating for the company. Wall Street Zen cut GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. BMO Capital Markets upped their price target 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, Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $580.04.

GE Vernova Price Performance

GE Vernova stock opened at $625.99 on Friday. GE Vernova Inc. has a 12 month low of $219.01 and a 12 month high of $677.29. The business has a 50 day simple moving average of $608.65 and a 200-day simple moving average of $468.10. The stock has a market capitalization of $170.41 billion, a PE ratio of 150.84, a price-to-earnings-growth ratio of 4.38 and a beta of 1.87.

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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the business earned $4.65 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were issued 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 of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio is currently 24.10%.

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.