SouthState Corp Has $1.07 Million Stock Position in GE Vernova Inc. $GEV

SouthState Corp boosted its position in GE Vernova Inc. (NYSE:GEV) by 385.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,021 shares of the company’s stock after buying an additional 1,605 shares during the quarter. SouthState Corp’s holdings in GE Vernova were worth $1,069,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in shares of GE Vernova in the first quarter valued at about $27,000. WFA Asset Management Corp bought a new stake in GE Vernova during the 2nd quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in GE Vernova by 115.2% in 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 during the last quarter. 1248 Management LLC acquired a new stake in GE Vernova in the 1st quarter valued at approximately $31,000. Finally, Saudi Central Bank bought a new position in GE Vernova in the 1st quarter worth approximately $33,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GEV shares. Robert W. Baird increased their price objective on GE Vernova from $568.00 to $706.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Redburn Partners set a $475.00 price target on shares of GE Vernova in a report on Wednesday, October 15th. Wells Fargo & Company raised their price target on shares of GE Vernova from $697.00 to $717.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. BMO Capital Markets boosted their price objective on shares of GE Vernova from $690.00 to $710.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, Barclays increased their target price on shares of GE Vernova from $706.00 to $710.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $607.81.

GE Vernova Stock Performance

NYSE:GEV opened at $549.81 on Friday. The company has a 50-day moving average of $603.35 and a 200-day moving average of $546.47. The company has a market capitalization of $149.17 billion, a price-to-earnings ratio of 89.55, a PEG ratio of 4.16 and a beta of 1.68. GE Vernova Inc. has a 52 week low of $252.25 and a 52 week high of $677.29.

GE Vernova (NYSE:GEV) last posted 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 during the quarter, compared to the consensus estimate of $9.15 billion. GE Vernova had a net margin of 4.52% and a return on equity of 17.07%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.35) EPS. GE Vernova has set its FY 2025 guidance at EPS. Sell-side analysts forecast that GE Vernova Inc. will post 6.59 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Monday, October 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Monday, October 20th. GE Vernova’s dividend payout ratio (DPR) is 16.29%.

Insider Buying and Selling

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company’s 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 sale, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate 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.