Moody National Bank Trust Division Sells 889 Shares of GE Vernova Inc. $GEV

Moody National Bank Trust Division lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 27.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,381 shares of the company’s stock after selling 889 shares during the period. Moody National Bank Trust Division’s holdings in GE Vernova were worth $2,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in GE Vernova during the 2nd quarter valued at $25,569,630,000. State Street Corp grew its stake in shares of GE Vernova by 3.3% in the second quarter. State Street Corp now owns 11,765,340 shares of the company’s stock worth $13,828,380,000 after purchasing an additional 370,842 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of GE Vernova during the second quarter valued at $2,961,612,000. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova during the second quarter valued at about $2,497,472,000. Finally, Jupiter Topco LLC bought a new stake in shares of GE Vernova during the second quarter valued at about $2,371,538,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Guggenheim increased their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. BNP Paribas Exane dropped their price target on shares of GE Vernova from $1,190.00 to $1,090.00 and set a “neutral” rating on the stock in a research report on Thursday, August 20th. Evercore reaffirmed an “outperform” rating and issued a $1,350.00 price target on shares of GE Vernova in a research note on Thursday, October 1st. TD Cowen raised their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Finally, Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,171.87.

GE Vernova Price Performance

Shares of GEV traded up $38.71 during mid-day trading on Tuesday, hitting $1,028.71. The company’s stock had a trading volume of 2,526,386 shares, compared to its average volume of 2,654,039. The firm has a 50-day moving average price of $963.54 and a 200 day moving average price of $995.50. The stock has a market capitalization of $273.98 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 3.35 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94.

GE Vernova (NYSE:GEV) last released its 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). The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.86 earnings per share. On average, research analysts predict that GE Vernova Inc. will post 15.38 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, October 27th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, October 27th. GE Vernova’s dividend payout ratio is 5.72%.

About GE Vernova

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.