Trust Co. of Vermont Boosts Stock Holdings in GE Vernova Inc. $GEV

Trust Co. of Vermont boosted its stake in shares of GE Vernova Inc. (NYSE:GEV) by 25.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,299 shares of the company’s stock after buying an additional 462 shares during the period. Trust Co. of Vermont’s holdings in GE Vernova were worth $1,217,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bartlett & CO. Wealth Management LLC grew its stake in GE Vernova by 0.8% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 3,180 shares of the company’s stock valued at $1,683,000 after acquiring an additional 24 shares in the last quarter. Impact Capital Partners LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth $296,000. Forza Wealth Management LLC purchased a new position in shares of GE Vernova in the 2nd quarter worth $323,000. Childress Capital Advisors LLC grew its stake in shares of GE Vernova by 37.3% in the 2nd quarter. Childress Capital Advisors LLC now owns 1,063 shares of the company’s stock worth $562,000 after buying an additional 289 shares in the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new position in shares of GE Vernova in the 2nd quarter worth $535,000.

Insiders Place Their Bets

In related news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The shares were 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 owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GEV. JPMorgan Chase & Co. lifted their price objective on shares of GE Vernova from $620.00 to $715.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. TD Cowen lifted their price objective on shares of GE Vernova from $390.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. The Goldman Sachs Group lifted their price objective on shares of GE Vernova from $500.00 to $570.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Finally, Wolfe Research lowered shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a report on Friday, June 13th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $598.50.

GE Vernova Trading Down 1.3%

GE Vernova stock opened at $606.97 on Thursday. The firm has a 50-day moving average price of $624.54 and a 200-day moving average price of $495.09. The firm has a market capitalization of $165.23 billion, a PE ratio of 146.26, a price-to-earnings-growth ratio of 4.48 and a beta of 1.74. GE Vernova Inc. has a 12-month low of $248.50 and a 12-month high of $677.29.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $8.78 billion. During the same quarter last year, the business earned $4.65 EPS. The business’s revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a dividend of $0.25 per share. 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 (DPR) is presently 24.10%.

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.