Glenview Trust co Grows Stock Position in GE Vernova Inc. $GEV

Key Points

• Glenview Trust co increased its stake in GE Vernova Inc. by 22.3% during the first quarter, holding 3,830 shares valued at approximately $1.17 million.
• GE Vernova reported a strong quarterly performance, with an EPS of $1.86, surpassing estimates, and a revenue increase of 11.1% year-over-year, totaling $9.11 billion.
• The company recently announced a quarterly dividend of $0.25 per share, resulting in a 0.2% yield and a payout ratio of 24.10%.

Glenview Trust co raised its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 22.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,830 shares of the company's stock after buying an additional 699 shares during the quarter. Glenview Trust co's holdings in GE Vernova were worth $1,169,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova in the first quarter worth about $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova in the first quarter worth about $27,000. Orion Capital Management LLC purchased a new position in shares of GE Vernova in the fourth quarter worth about $30,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of GE Vernova by 115.2% in the first 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 last quarter. Finally, Saudi Central Bank purchased a new position in shares of GE Vernova in the first quarter worth about $33,000.

GE Vernova Trading Down 1.3%

Shares of GEV opened at $635.37 on Friday. GE Vernova Inc. has a 12 month low of $199.65 and a 12 month high of $677.29. The stock's 50 day moving average is $606.48 and its two-hundred day moving average is $465.05. The firm has a market cap of $172.96 billion, a P/E ratio of 153.10, a PEG ratio of 4.45 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating 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 company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. During the same period last year, the company earned $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. Equities research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, July 21st. GE Vernova's dividend payout ratio (DPR) is presently 24.10%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GEV shares. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a research note on Monday, July 28th. HSBC raised their target price on GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a report on Friday, September 5th. Wall Street Zen lowered GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group assumed coverage on GE Vernova in a report on Monday, July 7th. They set a "buy" rating and a $614.00 target price on the stock. Finally, Jefferies Financial Group lowered GE Vernova from a "buy" rating to a "hold" rating and raised their target price for the stock from $427.00 to $517.00 in a report on Thursday, May 29th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and a consensus price target of $573.75.

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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