Synovus Financial Corp Lowers Holdings in GE Vernova Inc. $GEV

Synovus Financial Corp reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 2.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,913 shares of the company’s stock after selling 60 shares during the period. Synovus Financial Corp’s holdings in GE Vernova were worth $889,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Navigoe LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $27,000. Clarity Asset Management Inc. acquired a new position in shares of GE Vernova during the 4th quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova during the 1st quarter worth $27,000. Orion Capital Management LLC acquired a new position in shares of GE Vernova during the 4th quarter worth $30,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of GE Vernova during the 1st quarter worth $27,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GEV. UBS Group began coverage on GE Vernova in a research note on Monday, July 7th. They set a “buy” rating and a $614.00 price target for the company. BMO Capital Markets lifted their price target on GE Vernova from $590.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Citigroup boosted their target price on shares of GE Vernova from $544.00 to $670.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Barclays boosted their target price on shares of GE Vernova from $580.00 to $706.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GE Vernova from $620.00 to $715.00 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, eighteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $560.21.

GE Vernova Price Performance

NYSE GEV opened at $623.32 on Thursday. GE Vernova Inc. has a 12 month low of $180.77 and a 12 month high of $677.29. The company has a 50-day moving average of $584.29 and a 200-day moving average of $446.42. The company has a market cap of $169.68 billion, a P/E ratio of 150.20, a P/E/G ratio of 4.33 and a beta of 1.90.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.23. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate 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 was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Monday, July 21st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, July 21st. GE Vernova’s dividend payout ratio is currently 24.10%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova 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.