OLD Point Trust & Financial Services N A Has $636,000 Stake in GE Vernova Inc. $GEV

OLD Point Trust & Financial Services N A lowered its stake in shares of GE Vernova Inc. (NYSE:GEV) by 11.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,202 shares of the company’s stock after selling 154 shares during the period. OLD Point Trust & Financial Services N A’s holdings in GE Vernova were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GEV. IMA Advisory Services Inc. bought a new stake in GE Vernova in the 1st quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of GE Vernova by 115.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company’s stock valued at $30,000 after buying an additional 53 shares in the last quarter. 1248 Management LLC purchased a new stake in shares of GE Vernova during the 1st quarter valued at approximately $31,000. Saudi Central Bank purchased a new stake in shares of GE Vernova during the 1st quarter valued at $33,000. Finally, Ransom Advisory Ltd purchased a new stake in shares of GE Vernova during the 1st quarter valued at $33,000.

Insider Buying and Selling at GE Vernova

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

GE Vernova Stock Down 1.6%

Shares of GEV stock opened at $575.73 on Thursday. The company has a 50 day moving average price of $612.65 and a 200-day moving average price of $525.17. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The firm has a market capitalization of $156.72 billion, a PE ratio of 138.73, a P/E/G ratio of 4.24 and a beta of 1.72.

GE Vernova (NYSE:GEV) last announced its earnings results 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). 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 3.16% and a return on equity of 13.23%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) earnings per share. GE Vernova has set its FY 2025 guidance at EPS. Analysts anticipate that GE Vernova Inc. will post 6.59 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Monday, October 20th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio is presently 24.10%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GEV. Redburn Partners set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Barclays raised their target price on shares of GE Vernova from $580.00 to $706.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. HSBC raised their target price on shares of GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research report on Friday, September 5th. Melius Research set a $740.00 price target on shares of GE Vernova and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $601.26.

GE Vernova Company 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.