GE Vernova Inc. $GEV Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. decreased its position in shares of GE Vernova Inc. (NYSE:GEV) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,328 shares of the company’s stock after selling 34,344 shares during the quarter. GE Vernova accounts for about 1.0% of Congress Asset Management Co.’s holdings, making the stock its 20th biggest position. Congress Asset Management Co. owned about 0.06% of GE Vernova worth $150,489,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in GE Vernova during the 3rd quarter worth about $295,000. Byrne Asset Management LLC lifted its holdings in GE Vernova by 1.0% in the 3rd quarter. Byrne Asset Management LLC now owns 980 shares of the company’s stock valued at $968,000 after purchasing an additional 10 shares in the last quarter. Legacy Private Trust Co. boosted its stake in shares of GE Vernova by 23.8% during the 3rd quarter. Legacy Private Trust Co. now owns 1,585 shares of the company’s stock worth $1,507,000 after purchasing an additional 305 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of GE Vernova by 0.7% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 2,915 shares of the company’s stock worth $2,771,000 after buying an additional 19 shares in the last quarter. Finally, Eastern Bank grew its holdings in shares of GE Vernova by 9.9% during the third quarter. Eastern Bank now owns 3,670 shares of the company’s stock worth $3,488,000 after buying an additional 330 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GEV shares. The Goldman Sachs Group raised shares of GE Vernova from a “buy” rating to a “market outperform” rating in a research note on Monday, September 14th. Royal Bank Of Canada boosted their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Evercore restated an “outperform” rating and set a $1,350.00 price objective on shares of GE Vernova in a report on Thursday, October 1st. Glj Research initiated coverage on GE Vernova in a research note on Monday, September 14th. They issued a “sell” rating and a $470.00 target price for the company. Finally, President Capital increased their target price on GE Vernova from $1,368.00 to $1,398.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $1,171.87.

GE Vernova Stock Up 3.9%

Shares of NYSE GEV traded up $38.71 on Tuesday, hitting $1,028.71. The company had a trading volume of 2,526,386 shares, compared to its average volume of 2,654,039. The company has a quick ratio of 0.62, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94. The firm has a market capitalization of $273.98 billion, a P/E ratio of 29.44, a PEG ratio of 3.35 and a beta of 1.14. The business has a 50 day moving average of $965.26 and a two-hundred day moving average of $996.71.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same period last year, the firm posted $1.86 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts forecast that GE Vernova Inc. will post 15.38 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, October 27th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, October 27th. GE Vernova’s dividend payout ratio (DPR) is presently 5.72%.

GE Vernova Company Profile

GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.

GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.

The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.