Greenfield Savings Bank Takes Position in GE Vernova Inc. $GEV

Key Points

• Greenfield Savings Bank has invested approximately $276,000 in GE Vernova Inc., acquiring 521 shares during the 2nd quarter.
• Several institutional investors, including Brighton Jones LLC and Janus Henderson Group PLC, have also increased their positions in GE Vernova, reflecting growing interest in the stock.
• Despite strong quarterly earnings that exceeded analysts' expectations, GE Vernova's stock price recently decreased by 1.3%, opening at $625.99.

Greenfield Savings Bank bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 521 shares of the company's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after purchasing an additional 753 shares in the last quarter. American Assets Inc. acquired a new stake in GE Vernova during the 4th quarter worth approximately $658,000. Janus Henderson Group PLC lifted its holdings in GE Vernova by 0.4% during the 4th quarter. Janus Henderson Group PLC now owns 33,013 shares of the company's stock worth $10,867,000 after buying an additional 132 shares in the last quarter. Quadcap Wealth Management LLC purchased a new position in GE Vernova in the 4th quarter valued at approximately $353,000. Finally, ProShare Advisors LLC grew its stake in shares of GE Vernova by 23.1% in the fourth quarter. ProShare Advisors LLC now owns 43,718 shares of the company's stock worth $14,380,000 after acquiring an additional 8,202 shares in the last quarter.

Wall Street Analysts Forecast Growth

GEV has been the topic of several analyst reports. Morgan Stanley increased their price objective on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Jefferies Financial Group increased their price target on GE Vernova from $658.00 to $668.00 and gave the company a "hold" rating in a research report on Friday. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. HSBC upped their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research note on Friday, September 5th. Finally, Wells Fargo & Company lifted their price target on shares of GE Vernova from $474.00 to $697.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average price target of $580.04.

GE Vernova Stock Down 1.3%

GEV stock opened at $625.99 on Friday. The business has a 50 day moving average price of $608.65 and a 200 day moving average price of $468.10. The stock has a market cap of $170.41 billion, a price-to-earnings ratio of 150.84, a PEG ratio of 4.38 and a beta of 1.87. GE Vernova Inc. has a fifty-two week low of $219.01 and a fifty-two week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter last year, the company earned $4.65 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Monday, July 21st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's payout ratio is 24.10%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated 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 in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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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