Members Trust Co Acquires 38 Shares of GE Vernova Inc. $GEV

Members Trust Co boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 5.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 751 shares of the company’s stock after acquiring an additional 38 shares during the quarter. Members Trust Co’s holdings in GE Vernova were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in GE Vernova by 1.8% during the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after acquiring an additional 432,830 shares in the last quarter. Goldman Sachs Group Inc. raised its position in GE Vernova by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after acquiring an additional 214,483 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after acquiring an additional 367,150 shares in the last quarter. Wellington Management Group LLP raised its position in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after acquiring an additional 684,794 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock valued at $591,333,000 after acquiring an additional 622,730 shares in the last quarter.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $620.00, for a total value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

GEV opened at $585.12 on Wednesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The firm’s fifty day moving average price is $613.83 and its two-hundred day moving average price is $524.82. The company has a market capitalization of $159.28 billion, a P/E ratio of 140.99, a P/E/G ratio of 4.30 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same quarter in the previous year, the company earned $4.65 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently announced 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. 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 payout ratio is currently 24.10%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Rothschild & Co Redburn reissued a “sell” rating and issued a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Robert W. Baird boosted their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Glj Research boosted their target price on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Finally, Melius Research set a $740.00 price target on shares of GE Vernova and gave the stock a “buy” rating in a research note on Monday, September 15th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $601.44.

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.