Intrust Bank NA Takes Position in GE Vernova Inc. $GEV

Intrust Bank NA purchased a new position in shares of GE Vernova Inc. (NYSE:GEV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,926 shares of the company’s stock, valued at approximately $1,019,000.

Several other large investors have also bought and sold shares of GEV. Caitong International Asset Management Co. Ltd acquired a new position in GE Vernova during the first quarter worth approximately $912,000. Pines Wealth Management LLC bought a new position in shares of GE Vernova during the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. boosted its stake 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 acquiring an additional 6,551 shares during the period. Dupree Financial Group LLC acquired a new position in shares of GE Vernova during the 2nd quarter worth approximately $253,000. Finally, Lockheed Martin Investment Management Co. bought a new stake in GE Vernova in the 1st quarter valued at $458,000.

GE Vernova Stock Performance

NYSE:GEV opened at $576.48 on Tuesday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The company has a market cap of $156.41 billion, a price-to-earnings ratio of 93.89, a PEG ratio of 4.30 and a beta of 1.69. The stock has a fifty day moving average price of $600.40 and a 200-day moving average price of $559.92.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The firm had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the company earned ($0.35) EPS. The company’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. Research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the sale, the chief financial officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price objective on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Guggenheim lowered shares of GE Vernova from a “buy” rating to a “neutral” rating in a research note on Monday, July 28th. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price objective on shares of GE Vernova in a research report on Wednesday, October 15th. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Finally, Melius upgraded GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a research note on Monday, September 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $607.81.

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.