First Citizens Bank & Trust Co. Grows Position in GE Vernova Inc. $GEV

First Citizens Bank & Trust Co. raised its position in GE Vernova Inc. (NYSE:GEV) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,146 shares of the company’s stock after purchasing an additional 139 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in GE Vernova were worth $1,665,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova in the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of GE Vernova by 115.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after purchasing an additional 53 shares during the period. 1248 Management LLC purchased a new position in shares of GE Vernova in the 1st quarter worth about $31,000. Saudi Central Bank purchased a new position in shares of GE Vernova in the 1st quarter worth about $33,000. Finally, Ransom Advisory Ltd purchased a new position in shares of GE Vernova in the 1st quarter worth about $33,000.

GE Vernova Stock Up 3.2%

GEV opened at $594.45 on Friday. The firm has a market capitalization of $161.82 billion, a P/E ratio of 96.82, a P/E/G ratio of 4.17 and a beta of 1.72. The firm’s 50 day moving average is $612.04 and its 200-day moving average is $527.31. GE Vernova Inc. has a 52-week low of $252.25 and a 52-week high of $677.29.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for 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%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Equities analysts expect that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid 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 payout ratio is 24.10%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GEV shares. Seaport Res Ptn upgraded GE Vernova to a “strong-buy” rating in a report on Thursday, July 10th. Morgan Stanley raised their price objective on GE Vernova from $675.00 to $690.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Bank of America raised their target price on GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Jefferies Financial Group boosted their price target on GE Vernova from $658.00 to $668.00 and gave the stock a “hold” rating in a research report on Friday, September 12th. Finally, UBS Group set a $710.00 price target on GE Vernova in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $607.48.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 completion of the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

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.