US Bancorp DE Raises Stake in GE Vernova Inc. $GEV

US Bancorp DE raised its position in GE Vernova Inc. (NYSE:GEV) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,379 shares of the company’s stock after acquiring an additional 1,927 shares during the quarter. US Bancorp DE’s holdings in GE Vernova were worth $52,057,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova in the first quarter worth approximately $912,000. Pines Wealth Management LLC purchased a new stake in shares of GE Vernova during the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. lifted its position in shares of GE Vernova by 8.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after buying an additional 6,551 shares during the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in shares of GE Vernova during the 1st quarter worth approximately $458,000. Finally, Golden State Wealth Management LLC lifted its position in shares of GE Vernova by 201.7% during the 1st quarter. Golden State Wealth Management LLC now owns 1,222 shares of the company’s stock worth $373,000 after buying an additional 817 shares during the last quarter.

GE Vernova Price Performance

GEV stock opened at $634.08 on Friday. The company has a fifty day moving average price of $620.64 and a 200 day moving average price of $506.61. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The company has a market cap of $172.61 billion, a price-to-earnings ratio of 152.79, a price-to-earnings-growth ratio of 4.55 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. GE Vernova’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is currently 24.10%.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer directly 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 the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of GE Vernova from $544.00 to $670.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a research report on Monday, September 15th. JPMorgan Chase & Co. boosted their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Robert W. Baird upped their price target on shares of GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $598.50.

About GE Vernova

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.