Community Financial Services Group LLC Buys 774 Shares of GE Vernova Inc. $GEV

Community Financial Services Group LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 266.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,064 shares of the company’s stock after buying an additional 774 shares during the quarter. Community Financial Services Group LLC’s holdings in GE Vernova were worth $1,207,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Cornerstone Financial Management LLC bought a new stake in GE Vernova during the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $25,000. Torren Management LLC bought a new position in GE Vernova in the 4th quarter valued at $26,000. Manning & Napier Advisors LLC boosted its holdings in GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares during the period. Finally, Navalign LLC bought a new position in GE Vernova in the 4th quarter valued at $27,000.

Insider Transactions at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the completion of the transaction, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Stock Performance

GE Vernova stock opened at $988.37 on Tuesday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The stock has a market cap of $263.23 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 3.53 and a beta of 1.21. The firm’s fifty day moving average price is $1,027.37 and its 200-day moving average price is $949.18.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The firm’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.86 earnings per share. On average, equities research analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is 5.72%.

Analyst Upgrades and Downgrades

GEV has been the topic of several research analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of GE Vernova in a report on Monday, July 27th. William Blair restated an “outperform” rating on shares of GE Vernova in a research report on Monday, August 3rd. Morgan Stanley lowered GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada raised their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Barclays lifted their price target on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

GE Vernova Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.