Greenleaf Trust Sells 1,004 Shares of GE Vernova Inc. $GEV

Key Points

• Greenleaf Trust has reduced its stake in GE Vernova Inc. by 15.8% during the second quarter, selling 1,004 shares, and now holds 5,345 shares worth approximately $2.83 million.
• A number of institutional investors have increased their positions in GE Vernova, with notable boosts from companies like Highline Wealth Partners (up 34.6%) and Grove Bank & Trust (up 16.0%).
• According to recent research reports, analysts have raised price targets for GE Vernova, with Morgan Stanley setting a new target of $675, while the stock has a current market cap of $167.30 billion.

Greenleaf Trust decreased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 15.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,345 shares of the company's stock after selling 1,004 shares during the quarter. Greenleaf Trust's holdings in GE Vernova were worth $2,828,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Highline Wealth Partners LLC boosted its position in GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company's stock valued at $37,000 after purchasing an additional 18 shares in the last quarter. Atlas Brown Inc. boosted 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 purchasing an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. boosted its position in GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after purchasing an additional 20 shares in the last quarter. West Branch Capital LLC boosted its position in GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company's stock valued at $52,000 after purchasing an additional 20 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in GE Vernova by 16.0% during the second quarter. Grove Bank & Trust now owns 167 shares of the company's stock valued at $88,000 after purchasing an additional 23 shares in the last quarter.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm's stock in a transaction dated 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 in the company, valued at $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 SEC, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on GE Vernova from $511.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wall Street Zen downgraded GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Bank of America raised their price target on GE Vernova from $550.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Citigroup raised their price target on GE Vernova from $544.00 to $670.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Glj Research started coverage on GE Vernova in a report on Monday, June 23rd. They issued a "buy" rating for the company. Four research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Stock Up 2.0%

Shares of NYSE:GEV opened at $614.57 on Wednesday. GE Vernova Inc. has a 52-week low of $248.50 and a 52-week high of $677.29. The stock has a market cap of $167.30 billion, a price-to-earnings ratio of 148.09, a PEG ratio of 4.39 and a beta of 1.87. The business has a 50-day moving average price of $625.00 and a 200-day moving average price of $494.32.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The firm had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same period last year, the business posted $4.65 earnings per share. The company's revenue for the quarter 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 analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova's dividend payout ratio (DPR) is presently 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.

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