Ameritas Advisory Services LLC Trims Stock Position in GE Vernova Inc. $GEV

Ameritas Advisory Services LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 10.8% during the second quarter, Holdings Channel reports. The firm owned 2,207 shares of the company’s stock after selling 266 shares during the quarter. Ameritas Advisory Services LLC’s holdings in GE Vernova were worth $1,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GEV. Brighton Jones LLC increased its position in shares of GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company’s stock valued at $1,091,000 after buying an additional 753 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of GE Vernova by 65.4% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 574 shares of the company’s stock worth $175,000 after acquiring an additional 227 shares during the period. IAM Advisory LLC purchased a new position in shares of GE Vernova during the 1st quarter worth approximately $582,000. Radnor Capital Management LLC grew its holdings in shares of GE Vernova by 0.4% during the 1st quarter. Radnor Capital Management LLC now owns 16,309 shares of the company’s stock worth $4,979,000 after acquiring an additional 66 shares during the period. Finally, Gateway Investment Advisers LLC grew its stake in GE Vernova by 181.8% in the first quarter. Gateway Investment Advisers LLC now owns 46,710 shares of the company’s stock worth $14,260,000 after purchasing an additional 30,135 shares during the period.

GE Vernova Stock Down 1.8%

NYSE:GEV opened at $595.07 on Friday. The company’s 50 day moving average price is $623.21 and its 200-day moving average price is $500.03. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The stock has a market cap of $161.99 billion, a price-to-earnings ratio of 143.39, a PEG ratio of 4.34 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.63 by $0.23. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $8.78 billion. During the same period last year, the business posted $4.65 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is presently 24.10%.

Insider Activity

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s 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 sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GEV has been the topic of several recent research reports. Royal Bank Of Canada set a $605.00 price target on GE Vernova and gave the stock a “sector perform” rating in a research note on Wednesday. Susquehanna upped their target price on shares of GE Vernova from $662.00 to $736.00 and gave the stock a “positive” rating in a research report on Thursday, July 24th. Morgan Stanley upped their target price on shares of GE Vernova from $511.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Mizuho cut shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $670.00 price objective on the stock. in a report on Monday, July 28th. Finally, Guggenheim cut shares of GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $598.50.

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.