Teamwork Financial Advisors LLC Sells 2,890 Shares of GE Vernova Inc. $GEV

Teamwork Financial Advisors LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV) by 15.4% in the second quarter, HoldingsChannel reports. The firm owned 15,885 shares of the company’s stock after selling 2,890 shares during the period. GE Vernova makes up approximately 1.7% of Teamwork Financial Advisors LLC’s investment portfolio, making the stock its 17th largest position. Teamwork Financial Advisors LLC’s holdings in GE Vernova were worth $18,663,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GEV. Cornerstone Financial Management LLC bought a new position in GE Vernova in the fourth quarter worth about $25,000. Wealth Watch Advisors INC purchased a new stake in shares of GE Vernova during the third quarter valued at about $25,000. Torren Management LLC bought a new stake in shares of GE Vernova in the 4th quarter valued at about $26,000. Manning & Napier Advisors LLC boosted its holdings in shares of GE Vernova by 68.4% in the 1st quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after buying an additional 13 shares in the last quarter. Finally, Navalign LLC purchased a new position in shares of GE Vernova in the 4th quarter worth approximately $27,000.

GE Vernova Price Performance

Shares of GEV stock opened at $990.15 on Friday. GE Vernova Inc. has a fifty-two week low of $530.16 and a fifty-two week high of $1,195.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The firm has a market capitalization of $263.71 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 3.57 and a beta of 1.21. The stock’s 50-day simple moving average is $1,026.62 and its 200-day simple moving average is $945.18.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.70). The company had revenue of $11.10 billion during the quarter, compared to analysts’ expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.86 earnings per share. As a group, equities analysts forecast that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Mizuho boosted their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. BNP Paribas Exane downgraded shares of GE Vernova from an “outperform” rating to a “neutral” rating and set a $1,190.00 target price for the company. in a research note on Monday, April 27th. Oppenheimer lifted their price target on shares of GE Vernova from $1,303.00 to $1,338.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Royal Bank Of Canada upped their price target on GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley downgraded GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $1,133.15.

Insiders Place Their Bets

In other news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction 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 sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

GE Vernova 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.