ZWJ Investment Counsel Inc. Sells 1,201 Shares of GE Vernova Inc. $GEV

ZWJ Investment Counsel Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 31.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 2,657 shares of the company’s stock after selling 1,201 shares during the period. ZWJ Investment Counsel Inc.’s holdings in GE Vernova were worth $1,406,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Highline Wealth Partners LLC increased its stake in shares of GE Vernova by 34.6% during the second quarter. Highline Wealth Partners LLC now owns 70 shares of the company’s stock valued at $37,000 after purchasing an additional 18 shares in the last quarter. Atlas Brown Inc. increased its stake in shares of GE Vernova by 0.8% during the second quarter. Atlas Brown Inc. now owns 2,496 shares of the company’s stock valued at $1,321,000 after purchasing an additional 19 shares in the last quarter. Physician Wealth Advisors Inc. increased its stake in shares of GE Vernova by 9.0% during the second quarter. Physician Wealth Advisors Inc. now owns 241 shares of the company’s stock valued at $128,000 after purchasing an additional 20 shares in the last quarter. West Branch Capital LLC increased its stake in shares of GE Vernova by 25.6% during the second quarter. West Branch Capital LLC now owns 98 shares of the company’s stock valued at $52,000 after purchasing an additional 20 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in shares of GE Vernova by 16.0% during the second quarter. Grove Bank & Trust now owns 167 shares of the company’s stock valued at $88,000 after purchasing an additional 23 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. HSBC raised their target price on shares of GE Vernova from $570.00 to $580.00 and gave the company a “hold” rating in a research note on Friday, September 5th. Morgan Stanley raised their target price on shares of GE Vernova from $511.00 to $675.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Wolfe Research downgraded shares of GE Vernova from an “outperform” rating to a “peer perform” rating in a research note on Friday, June 13th. Bank of America increased their price target on shares of GE Vernova from $550.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Finally, UBS Group began coverage on shares of GE Vernova in a report on Monday, July 7th. They set a “buy” rating and a $614.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $598.50.

Insider Transactions at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’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 value of $2,046,000.00. Following the sale, the chief financial officer owned 7,590 shares in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

GE Vernova Trading Down 1.8%

Shares of GEV stock opened at $595.07 on Friday. GE Vernova Inc. has a 12-month low of $252.25 and a 12-month high of $677.29. The firm’s 50 day moving average is $623.21 and its 200 day moving average is $498.89. The stock has a market capitalization of $161.99 billion, a P/E ratio of 143.39, a P/E/G ratio of 4.42 and a beta of 1.72.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.23. GE Vernova had a net margin of 3.16% and a return on equity of 13.23%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.78 billion. During the same quarter last year, the company posted $4.65 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, equities analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a $0.25 dividend. 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 (DPR) is currently 24.10%.

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.