GE Vernova Inc. $GEV Stake Reduced by Whitaker Myers Wealth Managers LTD.

Whitaker Myers Wealth Managers LTD. cut its holdings in GE Vernova Inc. (NYSE:GEV) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,207 shares of the company’s stock after selling 59 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in GE Vernova were worth $639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GEV. GAMMA Investing LLC raised its position in GE Vernova by 32,984.2% in the first quarter. GAMMA Investing LLC now owns 2,141,539 shares of the company’s stock worth $653,769,000 after acquiring an additional 2,135,066 shares in the last quarter. AQR Capital Management LLC raised its position in GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after acquiring an additional 892,549 shares in the last quarter. Amundi raised its position in GE Vernova by 109.0% in the first quarter. Amundi now owns 1,665,980 shares of the company’s stock worth $496,013,000 after acquiring an additional 868,927 shares in the last quarter. TD Asset Management Inc increased its stake in GE Vernova by 627.2% in the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after purchasing an additional 799,388 shares in the last quarter. Finally, Nuveen LLC purchased a new position in GE Vernova in the 1st quarter worth about $223,556,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of analyst reports. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Citigroup lifted their price target on GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Finally, UBS Group initiated coverage on GE Vernova in a research note on Monday, July 7th. They issued a “buy” rating and a $614.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $580.04.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred 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 owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

GE Vernova Price Performance

NYSE:GEV opened at $625.99 on Friday. GE Vernova Inc. has a fifty-two week low of $219.01 and a fifty-two week high of $677.29. The stock’s 50-day moving average is $608.65 and its two-hundred day moving average is $468.10. The stock has a market cap of $170.41 billion, a PE ratio of 150.84, a price-to-earnings-growth ratio of 4.38 and a beta of 1.87.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating 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 company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter in the previous year, the business posted $4.65 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

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

GE Vernova Company 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.