Kenneth Scott Parks Sells 3,300 Shares of GE Vernova (NYSE:GEV) Stock

Key Points

• Kenneth Scott Parks, CFO of GE Vernova, sold 3,300 shares of the company's stock at an average price of $620, totaling $2,046,000, resulting in a 30.30% decrease in his ownership stake.
• GE Vernova reported $9.11 billion in revenue for the last quarter, surpassing expectations and indicating an 11.1% increase year over year, along with a quarterly EPS of $1.86.
• Analysts have varying views on GE Vernova, with Morgan Stanley boosting its price target to $675 and many others maintaining a positive outlook but differences in their ratings.

GE Vernova Inc. (NYSE:GEV - Get Free Report) 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 value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares of the company's stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

GE Vernova Stock Performance

Shares of NYSE:GEV traded down $2.59 on Wednesday, hitting $623.32. The company's stock had a trading volume of 1,859,639 shares, compared to its average volume of 3,533,317. GE Vernova Inc. has a 12 month low of $180.77 and a 12 month high of $677.29. The company has a market capitalization of $169.68 billion, a price-to-earnings ratio of 150.20, a price-to-earnings-growth ratio of 4.16 and a beta of 1.90. The stock's 50-day moving average is $581.62 and its two-hundred day moving average is $445.20.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results 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 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 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. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Monday, July 21st were paid a $0.25 dividend. 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 is presently 24.10%.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently modified their holdings of GEV. Norges Bank acquired a new position in shares of GE Vernova in the 2nd quarter valued at $1,809,220,000. GAMMA Investing LLC boosted its position in shares of GE Vernova by 32,984.2% in the 1st quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company's stock valued at $653,769,000 after purchasing an additional 2,135,066 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of GE Vernova by 273.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,508,317 shares of the company's stock valued at $798,126,000 after purchasing an additional 1,104,747 shares during the period. AQR Capital Management LLC boosted its position in shares of GE Vernova by 252.9% in the 1st quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company's stock valued at $366,016,000 after purchasing an additional 892,549 shares during the period. Finally, Amundi boosted its position in shares of GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company's stock valued at $496,013,000 after purchasing an additional 868,927 shares during the period.

Analysts Set New Price Targets

GEV has been the subject of several recent analyst reports. Morgan Stanley increased their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wolfe Research cut GE Vernova from an "outperform" rating to a "peer perform" rating in a research note on Friday, June 13th. The Goldman Sachs Group increased their price target on GE Vernova from $500.00 to $570.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Glj Research began coverage on GE Vernova in a research note on Monday, June 23rd. They set a "buy" rating for the company. Finally, Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $560.21.

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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