First Citizens Bank & Trust 13F: Adds $3.6M to GEV Stake

First Citizens Bank & Trust recently increased its stake in GE Vernova Inc. (NYSE:GEV) by 119.2%, according to the latest SEC filing. The bank added 3,818 shares, bringing its total holdings to 7,021 shares valued at approximately $6.67 million. This change reflects the bank's growing confidence in GE Vernova's potential.

What Changed in First Citizens Bank & Trust's GE Vernova Position

First Citizens Bank & Trust significantly boosted its investment in GE Vernova, adding 3,818 shares to its holdings. This increase brought its total to 7,021 shares, marking a 119.2% rise from the previous count of 3,203 shares. The total value of the bank's holdings in GE Vernova now stands at about $6.67 million.

GE Vernova Inc. Stock Down 1.8%

Shares of GE Vernova Inc. (NYSE:GEV) are not currently priced due to unavailable spot data, but the stock has shown a 52-week range between $530.16 and $1,195.94. GE Vernova holds a market capitalization of around $246.74 billion and trades with a P/E ratio of 28.79. The stock's beta is 0.967, indicating moderate volatility compared to the market. The 50-day moving average is $967.25, while the 200-day moving average is $931.06. The company's current ratio is 0.85, with a quick ratio of 0.563 and a debt-to-equity ratio of 28.364.

Recent Earnings

GE Vernova reported revenues of approximately $41.37 billion, with a growth rate of 21.9%. The company's net margin stands at 23.04%, and it achieved a return on equity of 82.58%. Earnings per share are reported at $32.18. Investors can look forward to the next earnings report scheduled for October 28, 2026.

Dividend

GE Vernova offers a dividend yield of 0.22%, with a payout ratio of 5.73%. This reflects the company's commitment to returning value to its shareholders.

About GE Vernova

GE Vernova Inc. is a major player in the industrial sector, headquartered in Cambridge, Massachusetts. The company provides a wide range of products and services that generate, transfer, and store electricity across various regions, including the United States, Europe, and Asia. It operates through three main segments: Power, Wind, and Electrification. Under the leadership of CEO Scott L. Strazik, GE Vernova employs around 78,000 people and continues to innovate in the field of specialty industrial machinery.

Bottom Line

First Citizens Bank & Trust's increased stake in GE Vernova indicates a strong belief in the company's future prospects. Investors often track such institutional moves for insights into market confidence. It's important to remember that 13F filings are backward-looking and may not represent the current position of the investor.