United Capital Management of KS Inc. Makes New Investment in GE Vernova Inc. $GEV

United Capital Management of KS Inc. bought a new position in shares of GE Vernova Inc. (NYSE:GEV) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,504 shares of the company’s stock, valued at approximately $983,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GEV. RFG Advisory LLC raised its stake in GE Vernova by 2.1% in the fourth quarter. RFG Advisory LLC now owns 634 shares of the company’s stock valued at $414,000 after buying an additional 13 shares during the period. BlackDiamond Wealth Management LLC raised its stake in GE Vernova by 2.8% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company’s stock valued at $308,000 after buying an additional 13 shares during the period. Voisard Asset Management Group Inc. increased its stake in shares of GE Vernova by 2.7% during the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company’s stock worth $376,000 after purchasing an additional 15 shares during the period. Clean Yield Group increased its stake in shares of GE Vernova by 2.2% during the fourth quarter. Clean Yield Group now owns 685 shares of the company’s stock worth $448,000 after purchasing an additional 15 shares during the period. Finally, Rossmore Private Capital increased its stake in shares of GE Vernova by 2.8% during the fourth quarter. Rossmore Private Capital now owns 559 shares of the company’s stock worth $365,000 after purchasing an additional 15 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GEV. Guggenheim increased their target price on GE Vernova from $910.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets increased their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Erste Group Bank upgraded GE Vernova to a “strong-buy” rating in a research note on Tuesday, March 24th. Citigroup increased their target price on GE Vernova from $779.00 to $1,110.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Two equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,085.16.

Insider Buying and Selling

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 transaction of $2,470,856.97. Following the sale, the chief accounting officer owned 3,549 shares of the company’s stock, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Victor Abate sold 4,819 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. This represents a 72.42% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

GE Vernova Trading Up 3.7%

Shares of NYSE:GEV opened at $940.14 on Friday. The company has a market capitalization of $252.63 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.36 and a beta of 1.23. GE Vernova Inc. has a 1 year low of $474.21 and a 1 year high of $1,181.95. 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’s 50 day simple moving average is $1,008.85 and its 200 day simple moving average is $831.73.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. On average, research analysts anticipate that GE Vernova Inc. will post 14.99 EPS 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. Investors of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova’s dividend payout ratio is currently 5.83%.

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.