Nixon Peabody Trust Co. Has $445,000 Stock Holdings in GE Vernova Inc. $GEV

Nixon Peabody Trust Co. grew its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 25.3% in the second quarter, Holdings Channel reports. The institutional investor owned 841 shares of the company’s stock after acquiring an additional 170 shares during the period. Nixon Peabody Trust Co.’s holdings in GE Vernova were worth $445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GEV. AQR Capital Management LLC raised its stake in shares of GE Vernova by 252.9% in the first quarter. AQR Capital Management LLC now owns 1,245,420 shares of the company’s stock worth $366,016,000 after purchasing an additional 892,549 shares during the last quarter. Amundi raised its position 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 buying an additional 868,927 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of GE Vernova by 10,044.9% in the second 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 lifted its position 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 buying an additional 799,388 shares in the last quarter. Finally, Nuveen LLC bought a new stake in GE Vernova during the first quarter worth $223,556,000.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated 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 completion of the sale, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

GE Vernova Price Performance

GEV opened at $558.62 on Friday. The firm has a market capitalization of $151.56 billion, a P/E ratio of 90.98, a price-to-earnings-growth ratio of 4.28 and a beta of 1.68. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The company has a fifty day moving average price of $600.95 and a 200-day moving average price of $554.50.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data 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). GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the business posted ($0.35) EPS. GE Vernova’s quarterly revenue was up 11.8% on a year-over-year basis. 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 year.

GE Vernova Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be paid a $0.25 dividend. 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 currently 16.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GEV. JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $715.00 to $740.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Wall Street Zen downgraded shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Cowen reiterated a “buy” rating on shares of GE Vernova in a research note on Thursday, October 23rd. Guggenheim downgraded GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Finally, Robert W. Baird raised their price target on GE Vernova from $568.00 to $706.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Four research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $607.81.

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.