GE Vernova Inc. $GEV Shares Sold by Associated Banc Corp

Associated Banc Corp cut its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 47.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 549 shares of the company’s stock after selling 499 shares during the quarter. Associated Banc Corp’s holdings in GE Vernova were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co purchased a new position in shares of GE Vernova during the 2nd quarter worth about $13,998,000. Advisors Asset Management Inc. increased its position in GE Vernova by 18.6% during the second quarter. Advisors Asset Management Inc. now owns 34,743 shares of the company’s stock worth $18,384,000 after purchasing an additional 5,450 shares during the last quarter. Laurel Wealth Advisors LLC raised its stake in GE Vernova by 53,547.0% during the second quarter. Laurel Wealth Advisors LLC now owns 271,454 shares of the company’s stock worth $143,640,000 after purchasing an additional 270,948 shares during the period. RiverFront Investment Group LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $253,000. Finally, One Charles Private Wealth Services LLC purchased a new stake in shares of GE Vernova during the 2nd quarter valued at $209,000.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Cowen reaffirmed a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. Royal Bank Of Canada upped their price target on GE Vernova from $605.00 to $630.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. UBS Group set a $710.00 price objective on GE Vernova in a research note on Thursday, October 23rd. Rothschild & Co Redburn reiterated a “sell” rating and set a $475.00 target price on shares of GE Vernova in a report on Wednesday, October 15th. Finally, Wells Fargo & Company raised their price target on shares of GE Vernova from $697.00 to $717.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Stock Performance

GEV stock opened at $590.38 on Thursday. The firm has a market cap of $160.18 billion, a P/E ratio of 96.15, a price-to-earnings-growth ratio of 4.26 and a beta of 1.68. GE Vernova Inc. has a 1 year low of $252.25 and a 1 year high of $677.29. The stock has a 50-day simple moving average of $593.13 and a 200-day simple moving average of $567.26.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.08). GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company earned ($0.35) EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. GE Vernova has set its FY 2025 guidance at EPS. On average, equities research analysts predict that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Monday, October 20th were paid a $0.25 dividend. The ex-dividend date was Monday, October 20th. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is 16.29%.

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.