GE Vernova Inc. $GEV Shares Sold by Focus Partners Wealth

Focus Partners Wealth lessened its holdings in GE Vernova Inc. (NYSE:GEV) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,283 shares of the company’s stock after selling 1,493 shares during the quarter. Focus Partners Wealth’s holdings in GE Vernova were worth $64,234,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. RFG Advisory LLC boosted its holdings in GE Vernova by 2.1% in the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock worth $414,000 after acquiring an additional 13 shares in the last quarter. BlackDiamond Wealth Management LLC boosted its holdings in GE Vernova by 2.8% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock worth $308,000 after acquiring an additional 13 shares in the last quarter. Apriem Advisors boosted its holdings in GE Vernova by 0.7% in the fourth quarter. Apriem Advisors now owns 2,124 shares of the company’s stock worth $1,388,000 after acquiring an additional 14 shares in the last quarter. Voisard Asset Management Group Inc. boosted its holdings in GE Vernova by 2.7% in the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after acquiring an additional 15 shares in the last quarter. Finally, Clean Yield Group boosted its holdings in GE Vernova by 2.2% in the fourth quarter. Clean Yield Group now owns 685 shares of the company’s stock worth $448,000 after acquiring an additional 15 shares in the last quarter.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was 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 in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. This trade represents a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup raised their price target on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Erste Group Bank raised GE Vernova to a “strong-buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada lifted their target price on GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings raised GE Vernova from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. Finally, Morgan Stanley lifted their target price on GE Vernova from $817.00 to $960.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,085.16.

GE Vernova Trading Up 4.2%

Shares of NYSE:GEV opened at $980.08 on Tuesday. GE Vernova Inc. has a 12-month low of $479.04 and a 12-month high of $1,181.95. The company has a market capitalization of $263.37 billion, a PE ratio of 28.55, a PEG ratio of 3.49 and a beta of 1.24. The business has a 50 day moving average of $1,010.48 and a two-hundred day moving average of $836.38. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the company posted $0.91 earnings per share. GE Vernova’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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

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.