FineMark National Bank & Trust Decreases Stock Position in GE Vernova Inc. $GEV

FineMark National Bank & Trust decreased its position in GE Vernova Inc. (NYSE:GEV) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,474 shares of the company’s stock after selling 9,030 shares during the quarter. GE Vernova accounts for about 0.8% of FineMark National Bank & Trust’s investment portfolio, making the stock its 27th largest holding. FineMark National Bank & Trust’s holdings in GE Vernova were worth $23,533,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Stonebrook Private Inc. acquired a new stake in GE Vernova during the 2nd quarter valued at $993,000. Aspen Investment Management Inc purchased a new position in GE Vernova in the 2nd quarter valued at about $267,000. Greenland Capital Management LP acquired a new stake in shares of GE Vernova during the second quarter valued at about $529,000. Kayne Anderson Capital Advisors LP increased its position in shares of GE Vernova by 10.1% during the second quarter. Kayne Anderson Capital Advisors LP now owns 8,702 shares of the company’s stock worth $4,605,000 after acquiring an additional 798 shares during the last quarter. Finally, Rockbridge Investment Management LCC increased its position in shares of GE Vernova by 210.1% during the second quarter. Rockbridge Investment Management LCC now owns 2,313 shares of the company’s stock worth $1,224,000 after acquiring an additional 1,567 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Robert W. Baird increased their price target on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wells Fargo & Company increased their target price on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Morgan Stanley raised their price target on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Melius upgraded shares of GE Vernova from a “hold” rating to a “buy” rating and set a $740.00 price target for the company in a research note on Monday, September 15th. Finally, Glj Research upped their price target on shares of GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $607.81.

Insider Transactions at GE Vernova

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value 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. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

GE Vernova Trading Down 3.9%

GEV stock opened at $554.50 on Wednesday. The stock’s 50 day simple moving average is $599.38 and its 200 day simple moving average is $561.03. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm has a market cap of $150.45 billion, a P/E ratio of 90.31, a P/E/G ratio of 4.29 and a beta of 1.68.

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

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Monday, October 20th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, October 20th. This represents a $1.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio 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.