Transcend Capital Advisors LLC Trims Position in GE Vernova Inc. $GEV

Transcend Capital Advisors LLC lessened its stake in GE Vernova Inc. (NYSE:GEV) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,082 shares of the company’s stock after selling 166 shares during the period. Transcend Capital Advisors LLC’s holdings in GE Vernova were worth $1,631,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Brookwood Investment Group LLC purchased a new position in GE Vernova in the 2nd quarter worth about $825,000. First Command Advisory Services Inc. increased its stake in GE Vernova by 20.1% in the 2nd quarter. First Command Advisory Services Inc. now owns 574 shares of the company’s stock worth $304,000 after buying an additional 96 shares during the period. Solstein Capital LLC purchased a new position in GE Vernova in the 2nd quarter worth about $44,000. Delta Investment Management LLC increased its stake in GE Vernova by 26.6% in the 2nd quarter. Delta Investment Management LLC now owns 1,816 shares of the company’s stock worth $961,000 after buying an additional 382 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in GE Vernova by 2.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 431,173 shares of the company’s stock worth $228,150,000 after buying an additional 9,719 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Rothschild Redb downgraded shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Citigroup dropped their target price on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Wells Fargo & Company increased their target price on shares of GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho dropped their target price on shares of GE Vernova from $677.00 to $660.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four equities research 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’s stock. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $607.07.

GE Vernova Stock Performance

NYSE:GEV opened at $584.50 on Tuesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The stock has a market capitalization of $158.59 billion, a P/E ratio of 95.20, a P/E/G ratio of 4.22 and a beta of 1.72. The company’s 50-day simple moving average is $610.51 and its 200-day simple moving average is $534.28.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share 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 in the prior year, the business posted ($0.35) earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. On average, research analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Announces Dividend

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

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

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.