SouthState Bank Corp Purchases 1,785 Shares of GE Vernova Inc. $GEV

Key Points

• SouthState Bank Corp increased its GE Vernova stake by 85.1% in the fourth quarter, buying 1,785 additional shares and bringing its total to 3,883 shares valued at about $2.54 million.
• GE Vernova continues to draw strong analyst support, with several firms raising price targets and the stock carrying a consensus rating of Moderate Buy and an average target price of $1,090.76.
• The company reported better-than-expected quarterly results, with revenue up 17% year over year, but it also faces a legal dispute tied to the Vineyard Wind project and has seen recent insider share sales.

SouthState Bank Corp lifted its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 85.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,883 shares of the company's stock after purchasing an additional 1,785 shares during the period. SouthState Bank Corp's holdings in GE Vernova were worth $2,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in GEV. Jackson Grant Investment Advisers Inc. increased its stake in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the period. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the third quarter worth approximately $25,000. Torren Management LLC bought a new position in shares of GE Vernova during the fourth quarter worth approximately $26,000. ORG Wealth Partners LLC increased its stake in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after purchasing an additional 29 shares during the period. Finally, Navalign LLC bought a new position in shares of GE Vernova during the fourth quarter worth approximately $27,000.

Key Headlines Impacting GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova won new wind business in India, including a 100 MW order from Powerica to supply 28 onshore turbines for a Gujarat project. The deal supports the company’s renewable backlog and expands deployment of its 3.8 MW turbine platform in a key growth market.
• Positive Sentiment: Recent commentary continues to highlight GE Vernova as a beneficiary of rising AI-driven power demand, with stronger prospects in gas turbines, grid equipment, and broader electrification spending.
• Positive Sentiment: Analyst sentiment remains constructive overall, with several firms maintaining Buy ratings and high price targets, reflecting confidence in GE Vernova’s growth and pricing power.
• Neutral Sentiment: The company is also preparing to launch its 3.8 MW “workhorse” turbine in India, signaling continued product expansion, though the near-term stock impact is likely limited unless it translates into more orders.
• Neutral Sentiment: Investor interest remains elevated after GE Vernova’s strong earnings, but the stock’s premium valuation means expectations are already high and can amplify moves on any new headlines.
• Negative Sentiment: GE Vernova is facing fraud allegations from Iberdrola related to the Vineyard Wind offshore project, and a Boston judge declined to reconsider an order keeping the company on the project. That legal dispute adds uncertainty around execution, liability, and valuation.
• Negative Sentiment: CEO Victor Abate recently sold shares in a disclosed SEC filing, which may add to cautious sentiment even though the sale appears small relative to the company’s size.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Susquehanna set a $1,300.00 target price on GE Vernova in a research note on Thursday, April 23rd. Robert W. Baird increased their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Jefferies Financial Group increased their target price on GE Vernova from $965.00 to $1,350.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. JPMorgan Chase & Co. increased their target price on GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Finally, BMO Capital Markets increased their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,090.76.

Insiders Place Their Bets

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

GE Vernova Trading Up 0.2%

Shares of GEV stock opened at $935.26 on Monday. The stock's fifty day moving average price is $1,003.76 and its two-hundred day moving average price is $821.40. The company has a market cap of $251.32 billion, a PE ratio of 27.24, a P/E/G ratio of 3.46 and a beta of 1.24. GE Vernova Inc. has a fifty-two week low of $458.65 and a fifty-two week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company's revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 EPS. Equities analysts predict that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is currently 5.83%.

About GE Vernova

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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