Park National Corp OH trimmed its position in GE Vernova Inc. (NYSE:GEV – Free Report) by 1.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 44,654 shares of the company’s stock after selling 637 shares during the period. GE Vernova comprises 1.1% of Park National Corp OH’s investment portfolio, making the stock its 19th biggest position. Park National Corp OH’s holdings in GE Vernova were worth $42,443,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Auto Owners Insurance Co increased its position in shares of GE Vernova by 110,973.4% during the fourth quarter. Auto Owners Insurance Co now owns 34,858,156 shares of the company’s stock valued at $2,278,224,000 after acquiring an additional 34,826,773 shares during the last quarter. BlackRock Inc. purchased a new position in GE Vernova in the second quarter worth $25,569,630,000. Bank of America Corp DE purchased a new position in GE Vernova in the second quarter worth $2,961,612,000. Bank of New York Mellon Corp bought a new position in GE Vernova in the 2nd quarter valued at $2,497,472,000. Finally, Jupiter Topco LLC bought a new position in GE Vernova in the 2nd quarter valued at $2,371,538,000.
Analysts Set New Price Targets
Several analysts have commented on the stock. TD Cowen lifted their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their target price on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $1,298.00 price objective (up from $1,206.00) on shares of GE Vernova in a report on Tuesday, September 15th. Evercore reiterated an “outperform” rating and set a $1,350.00 target price on shares of GE Vernova in a research report on Thursday. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $1,185.00 price target (up from $1,155.00) on shares of GE Vernova in a research report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,171.87.
GE Vernova Price Performance
Shares of NYSE GEV traded up $4.59 during midday trading on Monday, hitting $993.29. 913,418 shares of the company’s stock were exchanged, compared to its average volume of 2,650,526. The business’s fifty day moving average price is $963.65 and its two-hundred day moving average price is $994.45. The company has a market cap of $264.54 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 3.35 and a beta of 1.14. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. GE Vernova Inc. has a 12-month low of $530.16 and a 12-month high of $1,195.94.
GE Vernova (NYSE:GEV – Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 EPS. As a group, research analysts forecast that GE Vernova Inc. will post 15.38 EPS for the current fiscal year.
GE Vernova Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Tuesday, October 27th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.72%.
About GE Vernova
GE Vernova Inc (NYSE: GEV) is an energy technology company formed through the separation of General Electric’s energy businesses in April 2024. The company is focused on helping generate, transmit, distribute and store electricity as power systems adapt to rising demand and the transition toward lower-carbon energy sources.
GE Vernova operates across three principal business areas: Power, Wind and Electrification. Its products and services include gas and steam power generation equipment, nuclear and hydropower technologies, onshore and offshore wind turbines, wind services, grid equipment, electrification systems, energy storage solutions and software used to monitor and manage energy infrastructure.
The company serves utilities, independent power producers, industrial customers and other energy-sector organizations in markets around the world.
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