Parkside Financial Bank & Trust Increases Stock Position in GE Vernova Inc. $GEV

Parkside Financial Bank & Trust lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 67.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,480 shares of the company’s stock after purchasing an additional 996 shares during the period. Parkside Financial Bank & Trust’s holdings in GE Vernova were worth $1,312,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of GE Vernova by 252.9% during the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock valued at $366,016,000 after acquiring an additional 892,549 shares during the last quarter. Amundi grew its stake in GE Vernova by 109.0% in the 1st quarter. Amundi now owns 1,665,980 shares of the company’s stock valued at $496,013,000 after purchasing an additional 868,927 shares during the period. Assenagon Asset Management S.A. increased its position in shares of GE Vernova by 10,044.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 842,433 shares of the company’s stock valued at $445,773,000 after purchasing an additional 834,129 shares during the last quarter. TD Asset Management Inc raised its stake in shares of GE Vernova by 627.2% during the 1st quarter. TD Asset Management Inc now owns 926,842 shares of the company’s stock worth $282,946,000 after purchasing an additional 799,388 shares during the period. Finally, Nuveen LLC bought a new stake in shares of GE Vernova during the 1st quarter worth $223,556,000.

GE Vernova Price Performance

NYSE:GEV opened at $575.61 on Friday. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock’s fifty day moving average price is $602.58 and its two-hundred day moving average price is $548.30. The company has a market cap of $156.18 billion, a P/E ratio of 93.75, a P/E/G ratio of 4.09 and a beta of 1.68.

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

GE Vernova Announces Dividend

The company 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 $0.25 dividend. 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 is presently 16.29%.

Insider Activity at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GEV. UBS Group set a $710.00 price target on shares of GE Vernova in a research report on Thursday, October 23rd. TD Cowen reduced their target price 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, October 23rd. Royal Bank Of Canada raised their price target on shares of GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Rothschild Redb cut shares of GE Vernova from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Finally, Melius raised GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price objective for the company in a report on Monday, September 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $607.81.

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.