Simmons Bank Acquires New Shares in GE Vernova Inc. $GEV

Simmons Bank acquired a new stake in GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,130 shares of the company’s stock, valued at approximately $4,302,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sachetta LLC raised its holdings in shares of GE Vernova by 10.7% in the second quarter. Sachetta LLC now owns 165 shares of the company’s stock valued at $87,000 after acquiring an additional 16 shares in the last quarter. AMG National Trust Bank raised its holdings in shares of GE Vernova by 1.5% in the second quarter. AMG National Trust Bank now owns 1,145 shares of the company’s stock valued at $606,000 after acquiring an additional 17 shares in the last quarter. Highline Wealth Partners LLC raised its holdings in shares of GE Vernova by 34.6% in the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after acquiring an additional 18 shares in the last quarter. Atlas Brown Inc. raised its holdings in shares of GE Vernova by 0.8% in the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after acquiring an additional 19 shares in the last quarter. Finally, Princeton Global Asset Management LLC raised its holdings in GE Vernova by 14.4% in the second quarter. Princeton Global Asset Management LLC now owns 151 shares of the company’s stock worth $80,000 after purchasing an additional 19 shares in the last quarter.

GE Vernova Stock Down 5.8%

Shares of NYSE GEV opened at $547.41 on Wednesday. The business’s 50 day moving average price is $606.31 and its 200 day moving average price is $546.36. The firm has a market cap of $148.52 billion, a P/E ratio of 89.16, a P/E/G ratio of 4.32 and a beta of 1.68. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 16.29%.

Insider Buying and Selling

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’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 sale, the chief financial officer owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on GEV shares. Redburn Partners set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Melius Research set a $740.00 target price on shares of GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Bank of America boosted their target price on shares of GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. TD Cowen reduced their target price on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Finally, Mizuho cut their price objective on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $607.81.

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.