Hanson & Doremus Investment Management Sells 451 Shares of GE Vernova Inc. $GEV

Key Points

• Hanson & Doremus Investment Management reduced its stake in GE Vernova Inc. by 34.2%, selling 451 shares and now owning a total of 869 shares, valued at approximately $460,000.
• Major analysts have raised their price targets for GE Vernova, with Robert W. Baird and Barclays both increasing their targets to $706, and JPMorgan Chase & Co. to $715, while the stock currently has a consensus rating of "Moderate Buy".
• GE Vernova announced a quarterly dividend of $0.25, with the record date set for October 20th and an ex-dividend date on the same day, representing an annual yield of 0.2%.

Hanson & Doremus Investment Management trimmed its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 34.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 869 shares of the company's stock after selling 451 shares during the period. Hanson & Doremus Investment Management's holdings in GE Vernova were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. EQ Wealth Advisors LLC bought a new position in shares of GE Vernova in the first quarter valued at $27,000. IMA Advisory Services Inc. bought a new position in shares of GE Vernova in the first quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC lifted 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 valued at $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC bought a new position in shares of GE Vernova in the first quarter valued at $31,000. Finally, Saudi Central Bank bought a new position in shares of GE Vernova in the first quarter valued at $33,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GEV shares. Robert W. Baird raised their price objective on shares of GE Vernova from $568.00 to $706.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Barclays raised their price target on shares of GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $620.00 to $715.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. HSBC raised their price target on shares of GE Vernova from $570.00 to $580.00 and gave the company a "hold" rating in a research report on Friday, September 5th. Finally, Glj Research began coverage on shares of GE Vernova in a research report on Monday, June 23rd. They set a "buy" rating on the stock. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Stock Performance

Shares of GEV stock opened at $605.21 on Monday. The firm has a market cap of $164.75 billion, a price-to-earnings ratio of 145.83, a P/E/G ratio of 4.41 and a beta of 1.88. GE Vernova Inc. has a 52 week low of $248.50 and a 52 week high of $677.29. The firm's 50-day simple moving average is $622.99 and its two-hundred day simple moving average is $491.47.

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

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is currently 24.10%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

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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