Atria Investments Inc Sells 715 Shares of GE Vernova Inc. $GEV

Atria Investments Inc lowered its stake in GE Vernova Inc. (NYSE:GEV) by 11.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,394 shares of the company’s stock after selling 715 shares during the period. Atria Investments Inc’s holdings in GE Vernova were worth $2,854,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GEV. Savvy Advisors Inc. grew its position in GE Vernova by 28.8% during the 2nd quarter. Savvy Advisors Inc. now owns 2,555 shares of the company’s stock worth $1,352,000 after acquiring an additional 571 shares during the last quarter. Live Oak Private Wealth LLC bought a new stake in GE Vernova in the second quarter valued at approximately $213,000. Assetmark Inc. boosted its stake in shares of GE Vernova by 17.7% during the second quarter. Assetmark Inc. now owns 16,605 shares of the company’s stock valued at $8,786,000 after purchasing an additional 2,501 shares during the period. Keybank National Association OH boosted its stake in shares of GE Vernova by 9.0% during the second quarter. Keybank National Association OH now owns 11,575 shares of the company’s stock valued at $6,125,000 after purchasing an additional 960 shares during the period. Finally, HBK Sorce Advisory LLC grew its holdings in shares of GE Vernova by 5.9% in the second quarter. HBK Sorce Advisory LLC now owns 4,586 shares of the company’s stock worth $2,427,000 after purchasing an additional 256 shares during the last quarter.

Analyst Ratings Changes

A number of research firms recently commented on GEV. Wall Street Zen lowered shares of GE Vernova from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Cowen restated a “buy” rating on shares of GE Vernova in a research report on Thursday, October 23rd. UBS Group set a $710.00 price objective on shares of GE Vernova in a research note on Thursday, October 23rd. HSBC raised their target price on GE Vernova from $570.00 to $580.00 and gave the stock a “hold” rating in a research note on Friday, September 5th. Finally, Rothschild & Co Redburn restated a “sell” rating and set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Four investment 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 company’s stock. According to data from MarketBeat.com, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $607.81.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were 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 in the company, valued at approximately $4,705,800. This trade represents a 30.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

GE Vernova Stock Performance

GEV stock opened at $583.13 on Tuesday. 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 $158.22 billion, a price-to-earnings ratio of 94.97, a PEG ratio of 4.35 and a beta of 1.69. The firm has a 50 day moving average price of $607.92 and a 200-day moving average price of $544.77.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, October 22nd. The company reported $1.64 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $9.15 billion. During the same period last year, the firm posted ($0.35) earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The company 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 $0.25 dividend. The ex-dividend date 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%.

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.