Apollon Wealth Management LLC Grows Holdings in GE Vernova Inc. $GEV

Key Points

• Apollon Wealth Management increased its GE Vernova stake by 32.4% in the first quarter, adding 10,550 shares to bring its total to 43,087 shares worth about $37.6 million.
• Other institutional investors also boosted holdings, while analyst sentiment remains broadly positive: GE Vernova has a Moderate Buy consensus with a $1,089.88 target price, though some firms recently mixed in upgrades and downgrades.
• The company reported strong quarterly results, with EPS of $17.44 and revenue of $9.34 billion, both ahead of expectations. GE Vernova also declared a quarterly dividend of $0.50 per share, payable July 14.

Apollon Wealth Management LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 32.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,087 shares of the company's stock after buying an additional 10,550 shares during the period. Apollon Wealth Management LLC's holdings in GE Vernova were worth $37,611,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GEV. Vicus Capital lifted its stake in shares of GE Vernova by 16.8% in the first quarter. Vicus Capital now owns 534 shares of the company's stock worth $466,000 after acquiring an additional 77 shares in the last quarter. Riverbend Wealth Management LLC grew its stake in GE Vernova by 25.6% during the 1st quarter. Riverbend Wealth Management LLC now owns 1,089 shares of the company's stock valued at $950,000 after purchasing an additional 222 shares in the last quarter. Patton Fund Management Inc. increased its holdings in GE Vernova by 1,462.7% during the 1st quarter. Patton Fund Management Inc. now owns 5,907 shares of the company's stock worth $5,156,000 after purchasing an additional 5,529 shares during the last quarter. Red Door Wealth Management LLC increased its holdings in GE Vernova by 0.6% during the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock worth $1,548,000 after purchasing an additional 10 shares during the last quarter. Finally, Aspire Private Capital LLC purchased a new stake in GE Vernova during the 1st quarter worth approximately $234,000.

Analyst Ratings Changes

A number of analysts have recently weighed in on GEV shares. Citigroup raised their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Weiss Ratings raised shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Zacks Research downgraded shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Finally, Robert W. Baird boosted their target price on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Three research 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,089.88.

Insider Transactions at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the 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 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company's stock.

GE Vernova Price Performance

Shares of NYSE GEV opened at $1,045.74 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $281.01 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 3.87 and a beta of 1.24. GE Vernova Inc. has a twelve month low of $482.20 and a twelve month high of $1,181.95. The business has a 50 day simple moving average of $1,031.16 and a 200-day simple moving average of $865.68.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping 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 return on equity of 43.97% and a net margin of 23.81%.The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. As a group, equities research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current year.

GE Vernova Dividend Announcement

The firm also recently declared 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 is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is presently 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.

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