Truepoint Inc. Has $387,000 Stake in GE Vernova Inc. $GEV

Truepoint Inc. reduced its holdings in GE Vernova Inc. (NYSE:GEV) by 16.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 732 shares of the company’s stock after selling 148 shares during the period. Truepoint Inc.’s holdings in GE Vernova were worth $387,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GEV. Caitong International Asset Management Co. Ltd bought a new position in GE Vernova in the first quarter worth approximately $912,000. Pines Wealth Management LLC acquired a new position in shares of GE Vernova during the second quarter worth approximately $408,000. Resona Asset Management Co. Ltd. raised its position in shares of GE Vernova by 8.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 86,021 shares of the company’s stock worth $26,229,000 after purchasing an additional 6,551 shares during the period. Dupree Financial Group LLC bought a new position in shares of GE Vernova in the 2nd quarter worth $253,000. Finally, Lockheed Martin Investment Management Co. acquired a new stake in GE Vernova in the 1st quarter valued at $458,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GEV shares. Melius Research set a $740.00 price objective on shares of GE Vernova and gave the stock a “buy” rating in a report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of GE Vernova in a research report on Wednesday, October 8th. Citigroup dropped their price target on shares of GE Vernova from $670.00 to $658.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Wall Street Zen lowered GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Finally, BMO Capital Markets raised their target price on GE Vernova from $690.00 to $710.00 and gave the company an “outperform” rating in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $607.81.

GE Vernova Stock Performance

Shares of GEV opened at $577.64 on Friday. GE Vernova Inc. has a fifty-two week low of $252.25 and a fifty-two week high of $677.29. The business has a 50-day moving average of $600.86 and a 200 day moving average of $555.94. The firm has a market cap of $156.72 billion, a P/E ratio of 94.08, a price-to-earnings-growth ratio of 4.15 and a beta of 1.68.

GE Vernova (NYSE:GEV) last issued its 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). The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a return on equity of 17.07% and a net margin of 4.52%.GE Vernova’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts predict that GE Vernova Inc. will post 6.59 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 payout ratio is presently 16.29%.

Insider Activity at GE Vernova

In other news, CFO Kenneth Scott Parks sold 3,300 shares of GE Vernova stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at approximately $4,705,800. The trade was a 30.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

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.