Union Savings Bank Increases Holdings in GE Vernova Inc. $GEV

Union Savings Bank increased its stake in GE Vernova Inc. (NYSE:GEV) by 113.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 660 shares of the company’s stock after buying an additional 351 shares during the quarter. Union Savings Bank’s holdings in GE Vernova were worth $349,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of GE Vernova in the first quarter valued at approximately $912,000. Pines Wealth Management LLC purchased a new stake in GE Vernova in the 2nd quarter worth approximately $408,000. Resona Asset Management Co. Ltd. boosted its holdings in GE Vernova by 8.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock valued at $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC bought a new position in GE Vernova in the 2nd quarter valued at $253,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of GE Vernova during the 1st quarter valued at $458,000.

Insider Buying and Selling

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 transaction, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GEV. HSBC increased their price objective on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Glj Research lifted their price target on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Rothschild Redb lowered GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Finally, Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Trading Up 3.5%

Shares of GE Vernova stock opened at $577.64 on Friday. The firm has a market capitalization of $156.72 billion, a PE ratio of 94.08, a price-to-earnings-growth ratio of 4.15 and a beta of 1.68. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29. The business’s 50-day moving average price is $600.86 and its 200-day moving average price is $555.94.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the prior year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced 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 of this dividend is Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is currently 16.29%.

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.