J. Safra Sarasin Holding AG Buys 6,001 Shares of GE Vernova Inc. $GEV

J. Safra Sarasin Holding AG lifted its position in GE Vernova Inc. (NYSE:GEV) by 37.9% during the second quarter, HoldingsChannel.com reports. The fund owned 21,846 shares of the company’s stock after purchasing an additional 6,001 shares during the period. J. Safra Sarasin Holding AG’s holdings in GE Vernova were worth $11,560,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. EQ Wealth Advisors LLC acquired a new stake in GE Vernova in the first quarter worth $27,000. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the 1st quarter valued at $27,000. Mowery & Schoenfeld Wealth Management LLC raised its stake 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 during the period. 1248 Management LLC acquired a new stake in GE Vernova during the 1st quarter worth $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova during the first quarter worth about $33,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GEV. Morgan Stanley lifted their price objective on GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Melius raised shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target on the stock in a research note on Monday, September 15th. Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Melius Research set a $740.00 price objective on shares of GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $598.50.

GE Vernova Price Performance

Shares of GEV stock opened at $606.80 on Friday. The company has a fifty day moving average price of $624.20 and a two-hundred day moving average price of $496.99. GE Vernova Inc. has a one year low of $250.89 and a one year high of $677.29. The stock has a market cap of $165.18 billion, a P/E ratio of 146.22, a P/E/G ratio of 4.42 and a beta of 1.72.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that GE Vernova Inc. will post 6.59 EPS 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. The ex-dividend date is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is 24.10%.

Insiders Place Their Bets

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.15% of the stock is currently owned by corporate 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.