Folger Nolan Fleming Douglas Capital Management Inc. Reduces Stock Holdings in GE Vernova Inc. $GEV

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in GE Vernova Inc. (NYSE:GEV) by 3.7% in the second quarter, Holdings Channel.com reports. The firm owned 2,459 shares of the company’s stock after selling 95 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in GE Vernova were worth $1,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GEV. Brighton Jones LLC boosted its holdings in shares of GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock worth $1,091,000 after purchasing an additional 753 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of GE Vernova by 13.0% in the 1st quarter. Farther Finance Advisors LLC now owns 4,113 shares of the company’s stock worth $1,298,000 after purchasing an additional 473 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of GE Vernova by 2.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,298 shares of the company’s stock worth $1,007,000 after purchasing an additional 83 shares during the period. GAMMA Investing LLC boosted its holdings in shares of GE Vernova by 8.4% in the 1st quarter. GAMMA Investing LLC now owns 7,015 shares of the company’s stock worth $2,142,000 after purchasing an additional 542 shares during the period. Finally, Integrated Advisors Network LLC boosted its holdings in shares of GE Vernova by 10.4% in the 1st quarter. Integrated Advisors Network LLC now owns 1,531 shares of the company’s stock worth $467,000 after purchasing an additional 144 shares during the period.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective on the stock in a research report on Monday, September 15th. Morgan Stanley upped their price objective on GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. UBS Group initiated coverage on GE Vernova in a research report on Monday, July 7th. They issued a “buy” rating and a $614.00 price objective on the stock. Finally, Glj Research initiated coverage on GE Vernova in a research report on Monday, June 23rd. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $598.50.

GE Vernova Trading Down 4.4%

Shares of GEV stock opened at $606.30 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The stock has a market capitalization of $165.05 billion, a price-to-earnings ratio of 146.10, a P/E/G ratio of 4.61 and a beta of 1.72. The stock has a fifty day simple moving average of $619.64 and a two-hundred day simple moving average of $508.47.

GE Vernova (NYSE:GEV) last issued its 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 business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. During the same period in the prior year, the business earned $4.65 EPS. The business’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. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio is currently 24.10%.

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.