Carnegie Investment Counsel Has $17.97 Million Stock Holdings in GE Vernova Inc. $GEV

Carnegie Investment Counsel cut its position in shares of GE Vernova Inc. (NYSE:GEV) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,958 shares of the company’s stock after selling 102 shares during the quarter. Carnegie Investment Counsel’s holdings in GE Vernova were worth $17,969,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Prentice Wealth Management LLC acquired a new stake in GE Vernova during the second quarter worth about $244,000. WFA Asset Management Corp acquired a new stake in GE Vernova during the second quarter worth about $29,000. FSM Wealth Advisors LLC grew its position in GE Vernova by 33.5% during the second quarter. FSM Wealth Advisors LLC now owns 2,632 shares of the company’s stock worth $1,396,000 after buying an additional 660 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in GE Vernova by 4.6% during the second quarter. First Citizens Bank & Trust Co. now owns 3,146 shares of the company’s stock worth $1,665,000 after buying an additional 139 shares in the last quarter. Finally, Roman Butler Fullerton & Co. grew its position in GE Vernova by 137.6% during the second quarter. Roman Butler Fullerton & Co. now owns 2,732 shares of the company’s stock worth $1,446,000 after buying an additional 1,582 shares in the last quarter.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

GE Vernova Trading Up 3.2%

NYSE:GEV opened at $594.45 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The firm has a 50 day moving average of $612.04 and a 200-day moving average of $527.31. The stock has a market capitalization of $161.82 billion, a P/E ratio of 96.82, a price-to-earnings-growth ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the firm posted ($0.35) EPS. The business’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts forecast 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. Stockholders of record on Monday, October 20th will be paid a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is 24.10%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Mizuho raised their price target on shares of GE Vernova from $670.00 to $677.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. HSBC raised their price target on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Morgan Stanley raised their price target on shares of GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.48.

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.