5,566 Shares in GE Vernova Inc. $GEV Acquired by Blue Jean Financial LLC

Key Points

• Blue Jean Financial LLC initiated a new position in GE Vernova, buying 5,566 shares valued at about $3.64 million. The stake makes GEV the firm’s third-largest holding, or roughly 3% of its portfolio.
• GE Vernova reported strong quarterly results, with EPS of $17.44 and revenue of $9.34 billion, both above analyst expectations. Revenue also rose 17% year over year, and the company later announced a quarterly dividend of $0.50 per share.
• Analysts remain generally bullish on the stock, with a consensus rating of “Moderate Buy” and an average price target of $1,085.16. However, insider selling was notable, including sales by CEO Victor Abate and CAO Matthew Joseph Potvin.

Blue Jean Financial LLC acquired a new position in GE Vernova Inc. (NYSE:GEV - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,566 shares of the company's stock, valued at approximately $3,638,000. GE Vernova accounts for about 3.0% of Blue Jean Financial LLC's holdings, making the stock its 3rd largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of GEV. Brighton Jones LLC boosted its holdings in GE Vernova by 29.4% in the 4th quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the period. Schnieders Capital Management LLC. boosted its holdings in GE Vernova by 1.7% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after buying an additional 26 shares during the period. Jump Financial LLC bought a new position in GE Vernova in the 2nd quarter worth approximately $258,000. Ossiam bought a new position in GE Vernova in the 2nd quarter worth approximately $42,000. Finally, Nebula Research & Development LLC boosted its holdings in GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after buying an additional 323 shares during the period.

GE Vernova Stock Up 3.7%

Shares of NYSE:GEV opened at $940.14 on Friday. The firm has a fifty day moving average price of $1,008.85 and a two-hundred day moving average price of $831.73. 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 company has a market cap of $252.63 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 3.49 and a beta of 1.23. GE Vernova Inc. has a one year low of $474.21 and a one year high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last posted 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 for 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 business's quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. Analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Announces Dividend

The business 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 dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 5.83%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley raised their price target on shares of GE Vernova from $817.00 to $960.00 and gave the company an "overweight" rating in a report on Monday, March 23rd. Zacks Research downgraded shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a report on Thursday, April 23rd. BMO Capital Markets raised their price target on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Finally, Erste Group Bank raised shares of GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,085.16.

Insider Buying and Selling at GE Vernova

In other news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction 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 sale, the chief executive officer owned 1,835 shares in the company, valued at approximately $1,739,726.80. This trade represents a 72.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm's stock in a transaction on 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 owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.