Envestnet Portfolio Solutions Inc. Grows Stock Holdings in GE Vernova Inc. $GEV

Envestnet Portfolio Solutions Inc. lifted its position in shares of GE Vernova Inc. (NYSE:GEV) by 37.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,082 shares of the company’s stock after purchasing an additional 1,673 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in GE Vernova were worth $3,975,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Torren Management LLC purchased a new stake in shares of GE Vernova during the 4th quarter worth $26,000. Jackson Grant Investment Advisers Inc. raised its stake in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Wealth Watch Advisors INC acquired a new position in GE Vernova in the third quarter valued at $25,000. ORG Wealth Partners LLC increased its stake in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock valued at $27,000 after purchasing an additional 29 shares during the period. Finally, Navalign LLC acquired a new position in GE Vernova in the fourth quarter valued at $27,000.

GE Vernova Stock Up 2.0%

Shares of NYSE GEV opened at $1,045.50 on Friday. GE Vernova Inc. has a 12-month low of $448.45 and a 12-month high of $1,181.95. The company has a market capitalization of $280.95 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.84 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The firm’s 50-day moving average is $974.20 and its two-hundred day moving average is $788.53.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Equities analysts anticipate that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova’s dividend payout ratio is presently 5.83%.

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. China Renaissance upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Thursday, January 29th. Mizuho set a $714.00 price objective on shares of GE Vernova in a research note on Tuesday, February 3rd. Evercore lifted their price objective on shares of GE Vernova from $860.00 to $905.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Finally, BNP Paribas Exane lowered shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 price objective on the stock. in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $1,090.76.

Insider Activity

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.21% of the company’s stock.

GE Vernova Company 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.