Trustco Bank Corp N Y Trims Position in GE Vernova Inc. (NYSE:GEV)

Trustco Bank Corp N Y lessened its stake in GE Vernova Inc. (NYSE:GEV) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,695 shares of the company’s stock after selling 156 shares during the period. GE Vernova accounts for about 2.4% of Trustco Bank Corp N Y’s portfolio, making the stock its 14th largest position. Trustco Bank Corp N Y’s holdings in GE Vernova were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Two Sigma Advisers LP purchased a new position in GE Vernova in the 4th quarter worth about $17,729,000. Tidal Investments LLC increased its stake in GE Vernova by 701.7% in the 4th quarter. Tidal Investments LLC now owns 58,294 shares of the company’s stock worth $19,175,000 after buying an additional 51,023 shares during the period. True Wealth Design LLC increased its stake in GE Vernova by 117.7% in the 4th quarter. True Wealth Design LLC now owns 135 shares of the company’s stock worth $44,000 after buying an additional 73 shares during the period. Tang Capital Management LLC purchased a new position in GE Vernova in the 4th quarter worth about $891,000. Finally, Tema Etfs LLC purchased a new position in GE Vernova during the 4th quarter valued at about $682,000.

GE Vernova Stock Up 0.4%

Shares of GEV opened at $428.63 on Monday. GE Vernova Inc. has a 52-week low of $150.01 and a 52-week high of $447.50. The firm’s fifty day moving average is $344.05 and its two-hundred day moving average is $345.94. The stock has a market cap of $116.99 billion and a PE ratio of 77.09.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, April 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.54. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.56 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.47) EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 18th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.23%. GE Vernova’s payout ratio is 14.41%.

Analyst Ratings Changes

A number of research analysts have commented on GEV shares. Robert W. Baird raised their target price on shares of GE Vernova from $387.00 to $405.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Jefferies Financial Group raised their target price on shares of GE Vernova from $391.00 to $413.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Johnson Rice started coverage on shares of GE Vernova in a research report on Friday, February 7th. They set a “buy” rating and a $425.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of GE Vernova from $446.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Finally, BMO Capital Markets cut their target price on shares of GE Vernova from $471.00 to $420.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $374.62.

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.