Arax Advisory Partners Cuts Position in GE Vernova Inc. $GEV

Key Points

• Arax Advisory Partners sharply reduced its GE Vernova stake by 77.7% in the fourth quarter, selling 12,821 shares and leaving it with 3,677 shares valued at about $2.4 million.
• GE Vernova reported a huge earnings beat for the latest quarter, posting $17.44 EPS versus the $1.95 consensus estimate, while revenue rose 17% year over year to $9.34 billion.
• Analyst sentiment remains broadly positive: the stock carries a Moderate Buy consensus with an average target price of about $1,085, though some firms have recently trimmed their ratings or changed targets.

Arax Advisory Partners cut its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 77.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,677 shares of the company's stock after selling 12,821 shares during the quarter. Arax Advisory Partners' holdings in GE Vernova were worth $2,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. RFG Advisory LLC increased its holdings in shares of GE Vernova by 2.1% in the 4th quarter. RFG Advisory LLC now owns 634 shares of the company's stock valued at $414,000 after acquiring an additional 13 shares during the period. BlackDiamond Wealth Management LLC boosted its position in shares of GE Vernova by 2.8% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company's stock worth $308,000 after purchasing an additional 13 shares in the last quarter. Apriem Advisors boosted its position in shares of GE Vernova by 0.7% in the 4th quarter. Apriem Advisors now owns 2,124 shares of the company's stock worth $1,388,000 after purchasing an additional 14 shares in the last quarter. Voisard Asset Management Group Inc. boosted its position in shares of GE Vernova by 2.7% in the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock worth $376,000 after purchasing an additional 15 shares in the last quarter. Finally, Clean Yield Group boosted its position in shares of GE Vernova by 2.2% in the 4th quarter. Clean Yield Group now owns 685 shares of the company's stock worth $448,000 after purchasing an additional 15 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GEV shares. Morgan Stanley raised their price objective on GE Vernova from $817.00 to $960.00 and gave the stock an "overweight" rating in a research report on Monday, March 23rd. Barclays raised their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a research report on Thursday, April 23rd. BNP Paribas Exane cut GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price objective for the company. in a research report on Monday, April 27th. Citigroup raised their price objective on GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Finally, Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and raised their price objective for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,085.16.

GE Vernova Stock Performance

Shares of GEV opened at $940.14 on Monday. The stock has a 50-day moving average of $1,008.85 and a two-hundred day moving average of $833.50. GE Vernova Inc. has a one year low of $474.21 and a one year high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The stock has a market cap of $252.63 billion, a P/E ratio of 27.39, a P/E/G ratio of 3.49 and a beta of 1.24.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm's revenue was up 17.0% compared to the same quarter last year. As a group, research analysts predict that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 16th. GE Vernova's payout ratio is 5.83%.

Insider Activity

In other news, CEO Victor Abate sold 4,819 shares of the business'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 completion of the transaction, the chief executive officer owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the completion of the transaction, the chief accounting officer directly owned 3,549 shares of the company's stock, 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. 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.

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