GE Vernova Inc. $GEV Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in GE Vernova Inc. (NYSE:GEV) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,398 shares of the company’s stock after selling 58 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in GE Vernova were worth $1,269,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. IMA Advisory Services Inc. acquired a new position in shares of GE Vernova in the 1st quarter worth approximately $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock worth $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC acquired a new stake in GE Vernova during the 1st quarter worth approximately $31,000. Saudi Central Bank acquired a new stake in GE Vernova during the 1st quarter worth approximately $33,000. Finally, Ransom Advisory Ltd acquired a new stake in GE Vernova during the 1st quarter worth approximately $33,000.

GE Vernova Trading Up 3.2%

Shares of GEV opened at $594.45 on Friday. GE Vernova Inc. has a twelve month low of $252.25 and a twelve month high of $677.29. The firm’s fifty day simple moving average is $612.04 and its 200-day simple moving average is $527.31. The firm has a market capitalization of $161.82 billion, a price-to-earnings ratio of 96.82, a PEG ratio of 4.17 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data 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 analyst estimates of $9.15 billion. During the same quarter in the previous year, the business posted ($0.35) earnings per share. GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 24.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GEV shares. Robert W. Baird increased their target price on shares of GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Glj Research increased their target price on shares of GE Vernova from $702.00 to $758.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. HSBC increased their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a report on Friday, September 5th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Rothschild & Co Redburn reiterated a “sell” rating and set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.48.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by company insiders.

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.