Salomon & Ludwin LLC Sells 32 Shares of GE Vernova Inc. $GEV

Salomon & Ludwin LLC cut its stake in GE Vernova Inc. (NYSE:GEV) by 11.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257 shares of the company’s stock after selling 32 shares during the period. Salomon & Ludwin LLC’s holdings in GE Vernova were worth $130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of GE Vernova by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 24,392,613 shares of the company’s stock valued at $7,446,577,000 after purchasing an additional 432,830 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in GE Vernova by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,129,958 shares of the company’s stock valued at $955,513,000 after buying an additional 214,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in GE Vernova by 21.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,080,006 shares of the company’s stock valued at $634,984,000 after acquiring an additional 367,150 shares during the last quarter. Wellington Management Group LLP boosted its position in GE Vernova by 50.9% during the first quarter. Wellington Management Group LLP now owns 2,029,948 shares of the company’s stock valued at $619,703,000 after acquiring an additional 684,794 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in GE Vernova by 47.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,937,018 shares of the company’s stock worth $591,333,000 after acquiring an additional 622,730 shares during the period.

GE Vernova Stock Down 0.4%

NYSE GEV opened at $599.62 on Monday. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29. The business has a 50 day moving average price of $616.42 and a 200-day moving average price of $522.14. The company has a market cap of $163.23 billion, a price-to-earnings ratio of 144.49, a P/E/G ratio of 4.34 and a beta of 1.72.

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

GE Vernova Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Seaport Res Ptn raised GE Vernova to a “strong-buy” rating in a research note on Thursday, July 10th. Glj Research boosted their price target on GE Vernova from $702.00 to $758.00 and gave the company a “buy” rating in a research note on Wednesday. Melius Research set a $740.00 price target on GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Susquehanna raised their price objective on shares of GE Vernova from $736.00 to $740.00 and gave the stock a “positive” rating in a research report on Monday, October 13th. Finally, Guggenheim downgraded shares of GE Vernova from a “buy” rating to a “neutral” rating in a research report on Monday, July 28th. Four 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus target price of $592.61.

Insider Buying and Selling at GE Vernova

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s stock in a transaction dated 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 $4,705,800. This represents a 30.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

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.