GE Vernova Inc. $GEV Shares Bought by Verus Capital Partners LLC

Verus Capital Partners LLC lifted its position in GE Vernova Inc. (NYSE:GEV) by 249.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,025 shares of the company’s stock after buying an additional 1,446 shares during the period. Verus Capital Partners LLC’s holdings in GE Vernova were worth $1,768,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC raised its position in GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock worth $26,000 after acquiring an additional 13 shares in the last quarter. Torren Management LLC acquired a new stake in GE Vernova in the 4th quarter valued at about $26,000. Cornerstone Financial Management LLC bought a new position in shares of GE Vernova during the 4th quarter valued at about $25,000. Wealth Watch Advisors INC bought a new position in shares of GE Vernova during the 3rd quarter valued at about $25,000. Finally, Navalign LLC acquired a new position in shares of GE Vernova in the 4th quarter worth approximately $27,000.

Insider Buying and Selling

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is owned by insiders.

GE Vernova Price Performance

NYSE GEV opened at $990.30 on Friday. The stock’s 50-day moving average price is $1,028.05 and its two-hundred day moving average price is $932.76. The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The company has a market cap of $263.75 billion, a PE ratio of 28.34, a PEG ratio of 3.53 and a beta of 1.09. GE Vernova Inc. has a 1 year low of $530.16 and a 1 year high of $1,195.94.

GE Vernova (NYSE:GEV) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.79 billion. During the same period in the prior year, the company posted $1.86 earnings per share. GE Vernova’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, analysts predict that GE Vernova Inc. will post 15.46 EPS for the current year.

GE Vernova Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova’s payout ratio is currently 5.72%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Robert W. Baird boosted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Guggenheim raised their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Argus set a $1,300.00 price target on shares of GE Vernova in a research report on Monday, April 27th. The Goldman Sachs Group restated a “buy” rating and issued a $1,328.00 price target on shares of GE Vernova in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. upped their price target on GE Vernova from $1,302.00 to $1,330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,133.15.

About GE Vernova

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.