Fieldview Capital Management LLC Takes $2.25 Million Position in GE Vernova Inc. $GEV

Fieldview Capital Management LLC purchased a new stake in shares of GE Vernova Inc. (NYSE:GEV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,437 shares of the company’s stock, valued at approximately $2,246,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company’s stock valued at $16,354,691,000 after buying an additional 208,162 shares during the period. State Street Corp lifted its stake in shares of GE Vernova by 2.1% during the fourth quarter. State Street Corp now owns 11,469,670 shares of the company’s stock worth $7,496,232,000 after buying an additional 231,392 shares during the period. Geode Capital Management LLC lifted its stake in shares of GE Vernova by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company’s stock worth $4,074,039,000 after buying an additional 68,894 shares during the period. Morgan Stanley lifted its position in GE Vernova by 12.8% during the fourth quarter. Morgan Stanley now owns 6,054,474 shares of the company’s stock valued at $3,957,024,000 after purchasing an additional 685,466 shares during the period. Finally, Norges Bank acquired a new position in shares of GE Vernova in the fourth quarter worth about $2,283,114,000.

Analysts Set New Price Targets

A number of analysts have recently commented on GEV shares. Rothschild & Co Redburn raised shares of GE Vernova from a “sell” rating to a “buy” rating and boosted their target price for the stock from $560.00 to $1,100.00 in a research note on Monday, March 9th. Royal Bank Of Canada increased their target price on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price objective on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Finally, TD Cowen increased their target price on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,085.16.

GE Vernova Stock Up 3.7%

Shares of NYSE GEV opened at $940.14 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $252.63 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.23. The firm has a 50-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.

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, topping analysts’ consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. Equities research analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders 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 dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova’s payout ratio is currently 5.83%.

Insider Buying and Selling

In related news, CEO Victor Abate sold 4,819 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the completion of the transaction, the chief executive officer owned 1,835 shares of the company’s stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business’s 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 approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

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.