Trustco Bank Corp N Y Has $3.81 Million Stake in GE Vernova Inc. $GEV

Trustco Bank Corp N Y boosted its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,203 shares of the company’s stock after acquiring an additional 544 shares during the quarter. GE Vernova accounts for about 3.7% of Trustco Bank Corp N Y’s portfolio, making the stock its 8th largest position. Trustco Bank Corp N Y’s holdings in GE Vernova were worth $3,811,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. IMA Advisory Services Inc. bought a new stake in shares of GE Vernova in the 1st quarter valued at about $27,000. WFA Asset Management Corp acquired a new position in shares of GE Vernova in the second quarter worth approximately $29,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in GE Vernova by 115.2% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after acquiring an additional 53 shares during the last quarter. 1248 Management LLC acquired a new stake in GE Vernova during the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova during the 1st quarter worth approximately $33,000.

GE Vernova Price Performance

Shares of GE Vernova stock opened at $558.62 on Friday. The business has a 50-day simple moving average of $600.95 and a 200 day simple moving average of $554.50. GE Vernova Inc. has a one year low of $252.25 and a one year high of $677.29. The firm has a market capitalization of $151.56 billion, a price-to-earnings ratio of 90.98, a PEG ratio of 4.28 and a beta of 1.68.

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

GE Vernova Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be issued a dividend of $0.25 per share. 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 is presently 16.29%.

Insider Buying and Selling at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova 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 transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Redburn Partners set a $475.00 price objective on shares of GE Vernova in a research note on Wednesday, October 15th. TD Cowen cut their price target on shares of GE Vernova from $685.00 to $680.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Susquehanna increased their price target on GE Vernova from $740.00 to $750.00 and gave the stock a “positive” rating in a report on Thursday, October 23rd. Morgan Stanley boosted their price objective on GE Vernova from $690.00 to $710.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Rothschild Redb cut GE Vernova from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $607.81.

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.