Axxcess Wealth Management LLC Grows Stock Position in GE Vernova Inc. $GEV

Key Points

• Axxcess Wealth Management increased its stake in GE Vernova by 384.4% in the fourth quarter, ending with 31,778 shares valued at about $20.77 million.
• Several analysts turned more bullish on the stock, with firms including Wells Fargo, Morgan Stanley, and TD Cowen raising price targets; the consensus rating is now Moderate Buy with an average target of about $1,090.76.
• GE Vernova reported strong quarterly results, including EPS of $17.44 versus a $1.95 estimate and revenue of $9.34 billion, while also announcing a quarterly dividend of $0.50 per share.

Axxcess Wealth Management LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 384.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,778 shares of the company's stock after purchasing an additional 25,218 shares during the period. Axxcess Wealth Management LLC's holdings in GE Vernova were worth $20,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of GE Vernova by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 25,023,625 shares of the company's stock worth $16,354,691,000 after purchasing an additional 208,162 shares in the last quarter. State Street Corp boosted its holdings in GE Vernova by 1.3% in the third quarter. State Street Corp now owns 11,238,278 shares of the company's stock worth $6,910,417,000 after purchasing an additional 140,500 shares during the period. Northern Trust Corp lifted its stake in GE Vernova by 1.8% in the third quarter. Northern Trust Corp now owns 2,877,458 shares of the company's stock valued at $1,769,349,000 after buying an additional 51,738 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in GE Vernova by 5,171.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,452,858 shares of the company's stock valued at $1,603,114,000 after buying an additional 2,406,326 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in GE Vernova by 7.1% in the third quarter. Invesco Ltd. now owns 2,375,738 shares of the company's stock valued at $1,460,841,000 after buying an additional 158,481 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GEV shares. Wells Fargo & Company lifted their price objective on shares of GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. Morgan Stanley upped their price objective on shares of GE Vernova from $817.00 to $960.00 and gave the company an "overweight" rating in a research note on Monday, March 23rd. TD Cowen upped their price objective on shares of GE Vernova from $780.00 to $1,220.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Susquehanna set a $1,300.00 price objective on GE Vernova in a report on Thursday, April 23rd. Finally, Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and upped their target price for the stock from $560.00 to $1,100.00 in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average price target of $1,090.76.

Insider Transactions at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

GE Vernova Price Performance

Shares of GEV opened at $1,039.71 on Friday. GE Vernova Inc. has a 1 year low of $458.65 and a 1 year 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. The stock has a market cap of $279.39 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 3.91 and a beta of 1.51. The stock's 50-day moving average price is $978.06 and its two-hundred day moving average price is $790.29.

GE Vernova (NYSE:GEV - Get Free Report) last released 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. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter in the previous year, the business posted $0.91 EPS. GE Vernova's revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts predict that GE Vernova Inc. will post 14.84 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. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio is 5.83%.

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.

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