Parcion Private Wealth LLC Sells 27 Shares of GE Vernova Inc. $GEV

Parcion Private Wealth LLC lessened its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.9% during the 2nd quarter, Holdings Channel reports. The firm owned 906 shares of the company’s stock after selling 27 shares during the period. Parcion Private Wealth LLC’s holdings in GE Vernova were worth $479,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GEV. IMA Advisory Services Inc. purchased a new position in GE Vernova during the 1st quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in 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 position in GE Vernova during the 1st quarter valued at approximately $31,000. Saudi Central Bank purchased a new position in GE Vernova during the 1st quarter valued at approximately $33,000. Finally, Ransom Advisory Ltd purchased a new position in GE Vernova during the 1st quarter valued at approximately $33,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $575.73 on Thursday. 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 P/E ratio of 138.73, a P/E/G ratio of 4.24 and a beta of 1.72. The stock has a 50 day moving average price of $612.65 and a 200 day moving average price of $525.17.

GE Vernova (NYSE:GEV) last issued its quarterly 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). GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the business posted ($0.35) earnings per share. GE Vernova’s revenue was up 11.8% on a year-over-year basis. GE Vernova has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is currently 24.10%.

Analysts Set New Price Targets

Several research firms have weighed in on GEV. Weiss Ratings restated a “hold (c)” rating on shares of GE Vernova in a report on Wednesday, October 8th. Susquehanna raised their price target on GE Vernova from $736.00 to $740.00 and gave the company a “positive” rating in a report on Monday, October 13th. Guggenheim cut GE Vernova from a “buy” rating to a “neutral” rating in a report on Monday, July 28th. Morgan Stanley raised their price target on GE Vernova from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Mizuho raised their price target on GE Vernova from $670.00 to $677.00 and gave the company a “neutral” rating in a report on Wednesday, October 15th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $601.44.

Insider Activity

In related news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 7,590 shares of the company’s stock, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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.