King Wealth Management Group Has $1.20 Million Position in GE Vernova Inc. $GEV

King Wealth Management Group increased its position in shares of GE Vernova Inc. (NYSE:GEV) by 34.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,840 shares of the company’s stock after purchasing an additional 474 shares during the quarter. King Wealth Management Group’s holdings in GE Vernova were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Torren Management LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $26,000. Jackson Grant Investment Advisers Inc. lifted its holdings in GE Vernova by 344.4% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in GE Vernova during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC lifted its holdings in GE Vernova by 241.7% during the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company’s stock worth $27,000 after purchasing an additional 29 shares during the last quarter. Finally, Navalign LLC acquired a new stake in GE Vernova during the 4th quarter worth approximately $27,000.

GE Vernova Price Performance

Shares of NYSE GEV opened at $1,071.65 on Wednesday. The stock has a market capitalization of $287.97 billion, a PE ratio of 31.22, a P/E/G ratio of 3.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.89 and a quick ratio of 0.65. The business has a fifty day moving average price of $987.58 and a two-hundred day moving average price of $798.82. GE Vernova Inc. has a fifty-two week low of $458.65 and a fifty-two week high of $1,181.95.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 EPS. As a group, equities analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova’s payout ratio is currently 5.83%.

Insider Activity at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares of the company’s stock, 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 is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on GEV shares. Wells Fargo & Company lifted their price target on GE Vernova from $831.00 to $896.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Zacks Research cut GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Evercore lifted their price target on GE Vernova from $860.00 to $905.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. Barclays lifted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Argus set a $1,300.00 price objective on GE Vernova in a report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,090.76.

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.