Whipplewood Advisors LLC Cuts Position in GE Vernova Inc. $GEV

Whipplewood Advisors LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 62.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 358 shares of the company’s stock after selling 586 shares during the period. Whipplewood Advisors LLC’s holdings in GE Vernova were worth $189,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in GE Vernova in the first quarter worth $912,000. Pines Wealth Management LLC purchased a new position in GE Vernova in the second quarter worth $408,000. Resona Asset Management Co. Ltd. grew its position in GE Vernova by 8.2% in the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after acquiring an additional 6,551 shares in the last quarter. Dupree Financial Group LLC purchased a new position in GE Vernova in the second quarter worth $253,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in GE Vernova in the first quarter worth $458,000.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of the 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 directly owned 7,590 shares in the company, valued at approximately $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on GEV shares. Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a research report on Wednesday, October 15th. Morgan Stanley upped their price target on shares of GE Vernova from $675.00 to $690.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, TD Cowen cut their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $607.59.

GE Vernova Trading Down 1.8%

GE Vernova stock opened at $584.68 on Monday. The firm has a 50-day moving average of $611.31 and a 200-day moving average of $532.47. The firm has a market cap of $158.64 billion, a P/E ratio of 95.23, a P/E/G ratio of 4.22 and a beta of 1.72. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). The firm had revenue of $9.97 billion for the quarter, compared to analysts’ expectations of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Research analysts forecast that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced 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 is Monday, October 20th. GE Vernova’s dividend payout ratio 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.