BOCHK Asset Management Ltd Sells 29,250 Shares of GE Vernova Inc. $GEV

BOCHK Asset Management Ltd reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 95.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,250 shares of the company’s stock after selling 29,250 shares during the period. GE Vernova accounts for approximately 0.2% of BOCHK Asset Management Ltd’s portfolio, making the stock its 17th biggest holding. BOCHK Asset Management Ltd’s holdings in GE Vernova were worth $661,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mountain Pacific Investment Advisers LLC acquired a new stake in shares of GE Vernova in the second quarter valued at about $220,000. SOA Wealth Advisors LLC. grew its position in shares of GE Vernova by 4.0% in the second quarter. SOA Wealth Advisors LLC. now owns 55,446 shares of the company’s stock valued at $29,339,000 after purchasing an additional 2,151 shares during the last quarter. Vigilare Wealth Management grew its position in shares of GE Vernova by 258.4% in the second quarter. Vigilare Wealth Management now owns 3,555 shares of the company’s stock valued at $1,881,000 after purchasing an additional 2,563 shares during the last quarter. Trust Co. of Vermont grew its position in shares of GE Vernova by 25.1% in the second quarter. Trust Co. of Vermont now owns 2,299 shares of the company’s stock valued at $1,217,000 after purchasing an additional 462 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of GE Vernova by 0.8% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 3,180 shares of the company’s stock valued at $1,683,000 after purchasing an additional 24 shares during the last quarter.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred 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 sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. The trade was 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. Insiders own 0.15% of the company’s stock.

GE Vernova Trading Down 1.3%

NYSE GEV opened at $606.97 on Thursday. The stock’s 50 day moving average is $624.54 and its two-hundred day moving average is $495.09. The company has a market capitalization of $165.23 billion, a price-to-earnings ratio of 146.26, a PEG ratio of 4.48 and a beta of 1.74. GE Vernova Inc. has a 1-year low of $248.50 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.23. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.65 earnings per share. GE Vernova has set its FY 2025 guidance at EPS. On average, analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s payout ratio is presently 24.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Melius Research set a $740.00 price target on GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. The Goldman Sachs Group raised their price target on GE Vernova from $500.00 to $570.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. HSBC raised their price target on GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research report on Friday, September 5th. Morgan Stanley lifted their target price on GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Finally, Susquehanna lifted their target price on GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $598.50.

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.