SouthState Corp Acquires 1,605 Shares of GE Vernova Inc. $GEV

SouthState Corp raised its holdings in GE Vernova Inc. (NYSE:GEV) by 385.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,021 shares of the company’s stock after purchasing an additional 1,605 shares during the quarter. SouthState Corp’s holdings in GE Vernova were worth $1,069,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GEV. Vanguard Group Inc. raised its holdings in shares of GE Vernova by 1.8% in the first quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after buying an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in GE Vernova by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock worth $955,513,000 after acquiring an additional 214,483 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in GE Vernova by 21.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after acquiring an additional 367,150 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of GE Vernova by 50.9% in the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock worth $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of GE Vernova by 47.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after purchasing an additional 622,730 shares in the last quarter.

Wall Street Analyst Weigh In

GEV has been the subject of several research analyst reports. HSBC boosted their price objective on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Jefferies Financial Group restated a “hold” rating and set a $654.00 target price on shares of GE Vernova in a research report on Monday, October 27th. Wall Street Zen cut GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Bank of America boosted their price objective on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, Rothschild Redb lowered shares of GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Four 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and an average price target of $607.81.

Insiders Place Their Bets

In other 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 transaction of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Trading Down 1.8%

NYSE:GEV opened at $549.81 on Friday. GE Vernova Inc. has a 1-year low of $252.25 and a 1-year high of $677.29. The firm has a market capitalization of $149.17 billion, a price-to-earnings ratio of 89.55, a PEG ratio of 4.16 and a beta of 1.68. The business’s 50-day moving average price is $603.35 and its two-hundred day moving average price is $546.47.

GE Vernova (NYSE:GEV) last posted 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). The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a $0.25 dividend. The ex-dividend date is Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

About GE Vernova

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.