ST Germain D J Co. Inc. Grows Position in GE Vernova Inc. $GEV

Key Points

• ST Germain D J Co. Inc. increased its stake in GE Vernova Inc. by 34.8% during the 2nd quarter, now holding 2,589 shares valued at $1,370,000.
• Several other institutional investors have also boosted their positions, with notable increases from Physician Wealth Advisors Inc. and Grove Bank & Trust.
• GE Vernova recently announced a $0.25 quarterly dividend and reported quarterly earnings of $1.86 per share, surpassing analysts’ expectations.

ST Germain D J Co. Inc. raised its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 34.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,589 shares of the company's stock after acquiring an additional 668 shares during the period. ST Germain D J Co. Inc.'s holdings in GE Vernova were worth $1,370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Atlas Brown Inc. raised its holdings in shares of GE Vernova by 0.8% in the 2nd quarter. Atlas Brown Inc. now owns 2,496 shares of the company's stock valued at $1,321,000 after acquiring an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of GE Vernova by 9.0% in the 2nd quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company's stock valued at $128,000 after acquiring an additional 20 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of GE Vernova by 16.0% in the 2nd quarter. Grove Bank & Trust now owns 167 shares of the company's stock valued at $88,000 after acquiring an additional 23 shares in the last quarter. Westover Capital Advisors LLC raised its holdings in shares of GE Vernova by 2.3% in the 1st quarter. Westover Capital Advisors LLC now owns 1,130 shares of the company's stock valued at $345,000 after acquiring an additional 25 shares in the last quarter. Finally, SVB Wealth LLC raised its holdings in shares of GE Vernova by 0.7% in the 1st quarter. SVB Wealth LLC now owns 3,585 shares of the company's stock valued at $1,094,000 after acquiring an additional 26 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GEV. Guggenheim cut GE Vernova from a "buy" rating to a "neutral" rating in a report on Monday, July 28th. Wells Fargo & Company raised their price objective on GE Vernova from $474.00 to $697.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Barclays raised their price objective on GE Vernova from $580.00 to $706.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. HSBC raised their price target on GE Vernova from $570.00 to $580.00 and gave the stock a "hold" rating in a research report on Friday, September 5th. Finally, Seaport Res Ptn upgraded GE Vernova to a "strong-buy" rating in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $592.35.

GE Vernova Price Performance

GEV stock opened at $605.21 on Friday. GE Vernova Inc. has a 1-year low of $248.50 and a 1-year high of $677.29. The business has a fifty day moving average price of $622.99 and a 200-day moving average price of $488.82. The stock has a market capitalization of $164.75 billion, a P/E ratio of 145.83, a P/E/G ratio of 4.43 and a beta of 1.87.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company had revenue of $9.11 billion during the quarter, compared to analysts' expectations of $8.78 billion. During the same quarter in the prior year, the business earned $4.65 earnings per share. GE Vernova'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, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is 24.10%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company'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 owned 7,590 shares of the company's stock, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

GE Vernova Company 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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.