IFP Advisors Inc Buys 1,210 Shares of GE Vernova Inc. $GEV

IFP Advisors Inc grew its stake in shares of GE Vernova Inc. (NYSE:GEV) by 26.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,725 shares of the company’s stock after buying an additional 1,210 shares during the period. IFP Advisors Inc’s holdings in GE Vernova were worth $3,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Torren Management LLC bought a new position in GE Vernova during the fourth quarter worth about $26,000. Jackson Grant Investment Advisers Inc. boosted its holdings in GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the last quarter. Wealth Watch Advisors INC bought a new position in GE Vernova during the third quarter worth about $25,000. ORG Wealth Partners LLC boosted its holdings in GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after buying an additional 29 shares during the last quarter. Finally, Navalign LLC bought a new position in GE Vernova during the fourth quarter worth about $27,000.

Insider Transactions at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 value of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. BMO Capital Markets lifted their price objective on GE Vernova from $1,110.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Susquehanna set a $1,300.00 target price on GE Vernova in a research note on Thursday, April 23rd. Finally, TD Cowen increased their target price on GE Vernova from $780.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, GE Vernova presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,090.76.

GE Vernova Price Performance

NYSE GEV opened at $1,045.50 on Friday. The business has a 50 day simple moving average of $974.20 and a 200 day simple moving average of $788.53. GE Vernova Inc. has a 52-week low of $448.45 and a 52-week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a market cap of $280.95 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 3.84 and a beta of 1.51.

GE Vernova (NYSE:GEV) last announced its 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 business had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter last year, the firm earned $0.91 EPS. GE Vernova’s revenue for the quarter was up 17.0% compared to the same quarter last year. Analysts anticipate that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s dividend payout ratio (DPR) is currently 5.83%.

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.