Rockland Trust Co. Buys Shares of 578 GE Vernova Inc. $GEV

Key Points

• Rockland Trust Co. has invested $306,000 in GE Vernova Inc. by purchasing 578 shares during the 2nd quarter.
• GE Vernova reported earnings of $1.86 per share for the last quarter, exceeding analysts' expectations of $1.63, with a revenue of $9.11 billion.
• Analysts have set new price targets for GE Vernova, with Barclays raising its target from $580.00 to $706.00 and giving the stock an "overweight" rating.

Rockland Trust Co. bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 578 shares of the company's stock, valued at approximately $306,000.

A number of other large investors have also recently made changes to their positions in the company. ARS Wealth Advisors Group LLC purchased a new position in GE Vernova in the second quarter valued at approximately $285,000. Redhawk Wealth Advisors Inc. purchased a new position in GE Vernova in the second quarter valued at approximately $312,000. Baker Tilly Wealth Management LLC purchased a new position in GE Vernova in the second quarter valued at approximately $318,000. Exchange Traded Concepts LLC increased its stake in GE Vernova by 24.7% in the second quarter. Exchange Traded Concepts LLC now owns 25,134 shares of the company's stock valued at $13,300,000 after purchasing an additional 4,977 shares during the last quarter. Finally, Park Capital Management LLC WI purchased a new position in GE Vernova in the second quarter valued at approximately $475,000.

GE Vernova Price Performance

Shares of GEV traded up $13.61 during mid-day trading on Friday, reaching $624.61. 4,104,917 shares of the company's stock were exchanged, compared to its average volume of 2,689,348. The stock has a market capitalization of $170.03 billion, a PE ratio of 150.51, a price-to-earnings-growth ratio of 4.55 and a beta of 1.87. The business's fifty day simple moving average is $617.11 and its 200-day simple moving average is $478.45. GE Vernova Inc. has a 52-week low of $242.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share 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 the consensus estimate of $8.78 billion. During the same period last year, the company earned $4.65 earnings per share. The company'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. Equities research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Monday, July 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 24.10%.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 completion of the sale, the chief financial officer directly owned 7,590 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on GEV. TD Cowen increased their price target on shares of GE Vernova from $390.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a "buy" rating in a research note on Monday, September 15th. Seaport Res Ptn upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Thursday, July 10th. Mizuho lowered shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a research note on Monday, July 28th. Finally, Wells Fargo & Company increased their price target on shares of GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $592.35.

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.