Everhart Financial Group Inc. Has $5.99 Million Stake in GE Vernova Inc. $GEV

Everhart Financial Group Inc. decreased its holdings in GE Vernova Inc. (NYSE:GEV) by 9.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,097 shares of the company’s stock after selling 562 shares during the quarter. Everhart Financial Group Inc.’s holdings in GE Vernova were worth $5,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sax Wealth Advisors LLC grew its holdings in shares of GE Vernova by 61.0% during the second quarter. Sax Wealth Advisors LLC now owns 1,251 shares of the company’s stock worth $1,470,000 after purchasing an additional 474 shares during the last quarter. Cardano Risk Management B.V. acquired a new stake in shares of GE Vernova in the second quarter valued at $105,170,000. Everpar Advisors LLC raised its holdings in shares of GE Vernova by 7.8% in the second quarter. Everpar Advisors LLC now owns 945 shares of the company’s stock valued at $1,110,000 after buying an additional 68 shares during the last quarter. Adamsbrown Wealth Consultants LLC raised its holdings in shares of GE Vernova by 5.6% in the second quarter. Adamsbrown Wealth Consultants LLC now owns 622 shares of the company’s stock valued at $731,000 after buying an additional 33 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in GE Vernova by 91.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,110 shares of the company’s stock worth $1,304,000 after buying an additional 529 shares in the last quarter.

Insider Buying and Selling at GE Vernova

In other news, 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 value of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company’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 completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

GE Vernova Stock Performance

Shares of GEV stock opened at $990.15 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. The stock has a market cap of $263.71 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 3.53 and a beta of 1.21. The stock has a 50-day moving average of $1,026.62 and a 200-day moving average of $945.18. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share 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 during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the prior year, the business earned $1.86 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. As a group, sell-side analysts expect that GE Vernova Inc. will post 15.57 earnings per share for the current year.

GE Vernova Dividend Announcement

The company also recently announced 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 was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s dividend payout ratio (DPR) is 5.72%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley downgraded shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Mizuho increased their price objective on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Wall Street Zen cut shares of GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Citigroup lifted their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, Guggenheim upped their target price on shares of GE Vernova from $1,300.00 to $1,450.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,133.15.

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.