GE Vernova Inc. $GEV Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc cut its holdings in GE Vernova Inc. (NYSE:GEV) by 57.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,367 shares of the company’s stock after selling 5,908 shares during the period. Prospera Financial Services Inc’s holdings in GE Vernova were worth $2,859,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GEV. RFG Advisory LLC boosted its stake in GE Vernova by 2.1% during the 4th quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after purchasing an additional 13 shares during the period. Voisard Asset Management Group Inc. boosted its stake in GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock valued at $376,000 after purchasing an additional 15 shares during the period. Clean Yield Group boosted its stake in GE Vernova by 2.2% during the 4th quarter. Clean Yield Group now owns 685 shares of the company’s stock valued at $448,000 after purchasing an additional 15 shares during the period. Rossmore Private Capital boosted its stake in GE Vernova by 2.8% during the 4th quarter. Rossmore Private Capital now owns 559 shares of the company’s stock valued at $365,000 after purchasing an additional 15 shares during the period. Finally, Forefront Wealth Partners LLC boosted its stake in GE Vernova by 1.5% during the 4th quarter. Forefront Wealth Partners LLC now owns 997 shares of the company’s stock valued at $652,000 after purchasing an additional 15 shares during the period.

GE Vernova Stock Up 3.2%

GEV stock opened at $1,071.65 on Wednesday. GE Vernova Inc. has a 52 week low of $458.65 and a 52 week high of $1,181.95. The company has a market capitalization of $287.97 billion, a price-to-earnings ratio of 31.22, a price-to-earnings-growth ratio of 3.89 and a beta of 1.51. The firm’s 50-day moving average is $987.58 and its two-hundred day moving average is $798.82. 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 released its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the firm earned $0.91 EPS. GE Vernova’s revenue was up 17.0% on a year-over-year basis. On average, analysts forecast that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova’s payout ratio is 5.83%.

Insider Activity at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction dated 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 approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GEV. Mizuho set a $714.00 target price on shares of GE Vernova in a research note on Tuesday, February 3rd. Erste Group Bank raised shares of GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Robert W. Baird boosted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Citigroup boosted their target price on shares of GE Vernova from $779.00 to $1,110.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Finally, UBS Group reissued a “buy” rating on shares of GE Vernova in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $1,090.76.

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.