Atlantic Union Bankshares Corp Acquires Shares of 1,180 GE Vernova Inc. $GEV

Atlantic Union Bankshares Corp acquired a new stake in GE Vernova Inc. (NYSE:GEV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,180 shares of the company’s stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GEV. First Horizon Advisors Inc. grew its holdings in GE Vernova by 7.6% during the second quarter. First Horizon Advisors Inc. now owns 746 shares of the company’s stock worth $395,000 after buying an additional 53 shares in the last quarter. Genus Capital Management Inc. purchased a new position in GE Vernova during the 2nd quarter worth $8,412,000. SNS Financial Group LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth $276,000. Cherry Creek Investment Advisors Inc. purchased a new stake in shares of GE Vernova in the second quarter valued at about $353,000. Finally, Simmons Bank purchased a new stake in shares of GE Vernova in the second quarter valued at about $4,302,000.

GE Vernova Trading Up 4.6%

Shares of GEV stock opened at $575.61 on Friday. The firm’s 50 day moving average is $602.58 and its 200 day moving average is $549.85. The stock has a market capitalization of $156.18 billion, a P/E ratio of 93.75, a PEG ratio of 4.28 and a beta of 1.68. GE Vernova Inc. has a 12 month low of $252.25 and a 12 month high of $677.29.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. On average, equities analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $1.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is 16.29%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total transaction of $2,046,000.00. Following the completion of the transaction, the chief financial officer owned 7,590 shares of the company’s stock, valued at $4,705,800. The trade was a 30.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on GEV shares. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Bank of America lifted their price target on GE Vernova from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Wells Fargo & Company upped their price objective on GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Redburn Partners set a $475.00 target price on GE Vernova in a research note on Wednesday, October 15th. Finally, Wall Street Zen downgraded 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, nineteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

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.