Park National Corp OH Trims Stock Holdings in GE Vernova Inc. $GEV

Park National Corp OH decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 9.2% during the first quarter, HoldingsChannel reports. The fund owned 50,517 shares of the company’s stock after selling 5,100 shares during the quarter. GE Vernova comprises about 1.3% of Park National Corp OH’s investment portfolio, making the stock its 13th biggest holding. Park National Corp OH’s holdings in GE Vernova were worth $44,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GEV. RFG Advisory LLC grew its position in shares of GE Vernova by 2.1% in the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after purchasing an additional 13 shares in the last quarter. BlackDiamond Wealth Management LLC raised its stake in shares of GE Vernova by 2.8% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock valued at $308,000 after purchasing an additional 13 shares during the period. First Commonwealth Financial Corp PA lifted its holdings in GE Vernova by 3.5% during the 4th quarter. First Commonwealth Financial Corp PA now owns 380 shares of the company’s stock worth $248,000 after purchasing an additional 13 shares in the last quarter. Apriem Advisors lifted its holdings in GE Vernova by 0.7% during the 4th quarter. Apriem Advisors now owns 2,124 shares of the company’s stock worth $1,388,000 after purchasing an additional 14 shares in the last quarter. Finally, Voisard Asset Management Group Inc. boosted its stake in GE Vernova by 2.7% in the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after purchasing an additional 15 shares during the period.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

GE Vernova Price Performance

GE Vernova stock opened at $1,111.65 on Friday. GE Vernova Inc. has a 52 week low of $479.04 and a 52 week high of $1,181.95. The business has a 50-day simple moving average of $1,022.78 and a 200 day simple moving average of $847.85. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. On average, research analysts forecast that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s dividend payout ratio is 5.83%.

Analyst Ratings Changes

A number of research analysts have weighed in on GEV shares. Erste Group Bank raised GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. BMO Capital Markets increased their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Weiss Ratings raised shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $1,089.88.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.