Victory Capital Management Inc. Trims Stock Holdings in GE Vernova Inc. $GEV

Victory Capital Management Inc. reduced its stake in GE Vernova Inc. (NYSE:GEV) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 930,735 shares of the company’s stock after selling 208,380 shares during the quarter. Victory Capital Management Inc.’s holdings in GE Vernova were worth $608,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Corps Capital Advisors LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at $672,000. Boston Family Office LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at $537,000. Saxon Interests Inc. lifted its position in shares of GE Vernova by 4.0% in the fourth quarter. Saxon Interests Inc. now owns 518 shares of the company’s stock valued at $339,000 after acquiring an additional 20 shares in the last quarter. Ieq Capital LLC lifted its position in shares of GE Vernova by 12.9% in the fourth quarter. Ieq Capital LLC now owns 91,537 shares of the company’s stock valued at $59,825,000 after acquiring an additional 10,454 shares in the last quarter. Finally, First National Bank of Omaha lifted its position in shares of GE Vernova by 90.1% in the fourth quarter. First National Bank of Omaha now owns 1,863 shares of the company’s stock valued at $1,223,000 after acquiring an additional 883 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on GE Vernova from $996.00 to $1,195.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price objective on GE Vernova in a research report on Thursday, April 23rd. The Goldman Sachs Group restated a “buy” rating and issued a $1,328.00 price objective on shares of GE Vernova in a research report on Friday, April 24th. Guggenheim upped their target price on GE Vernova from $910.00 to $1,300.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,085.16.

GE Vernova Stock Performance

GE Vernova stock opened at $940.14 on Friday. The firm has a market capitalization of $252.63 billion, a P/E ratio of 27.39, a PEG ratio of 3.36 and a beta of 1.23. The stock has a fifty day moving average price of $1,008.85 and a 200 day moving average price of $831.73. GE Vernova Inc. has a 52 week low of $474.21 and a 52 week high of $1,181.95. 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 earnings results on Wednesday, April 22nd. The company reported $17.44 EPS 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 analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 earnings per share. Equities research analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

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

Insider Activity

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction dated 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 owned 1,835 shares of the company’s stock, valued at $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company’s stock.

GE Vernova 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.