Convergence Financial LLC Takes Position in GE Vernova Inc. $GEV

Key Points

• Convergence Financial LLC opened a new position in GE Vernova during the fourth quarter, buying 4,138 shares worth about $2.7 million.
• GE Vernova reported strong quarterly results, with EPS of $17.44 versus estimates of $1.95 and revenue of $9.34 billion, up 17% year over year.
• The stock has drawn bullish analyst attention, with several firms raising price targets and the consensus view sitting at Moderate Buy with an average target price of $1,090.76, though recent insider sales may temper sentiment.

Convergence Financial LLC bought a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 4,138 shares of the company's stock, valued at approximately $2,704,000.

Several other hedge funds have also recently bought and sold shares of GEV. Vanguard Group Inc. grew its stake in 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 buying an additional 208,162 shares during the period. State Street Corp raised its stake in shares of GE Vernova by 1.3% in the 3rd quarter. State Street Corp now owns 11,238,278 shares of the company's stock valued at $6,910,417,000 after acquiring an additional 140,500 shares during the period. Geode Capital Management LLC raised its stake in shares of GE Vernova by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 6,249,193 shares of the company's stock valued at $4,074,039,000 after acquiring an additional 68,894 shares during the period. Norges Bank acquired a new position in shares of GE Vernova during the 4th quarter valued at $2,283,114,000. Finally, Northern Trust Corp lifted its holdings in shares of GE Vernova by 1.8% during the 3rd quarter. Northern Trust Corp now owns 2,877,458 shares of the company's stock valued at $1,769,349,000 after acquiring an additional 51,738 shares in the last quarter.

Insider Buying and Selling

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $948.08, for a total transaction of $4,568,797.52. Following the sale, the chief executive officer directly owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

GE Vernova Stock Performance

GE Vernova stock opened at $963.70 on Friday. GE Vernova Inc. has a 12-month low of $458.65 and a 12-month high of $1,181.95. 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 capitalization of $258.96 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 3.59 and a beta of 1.23. The firm's fifty day moving average price is $1,003.51 and its 200 day moving average price is $818.87.

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 analysts' consensus estimates of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company had revenue of $9.34 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. On average, research analysts forecast that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is 5.83%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price target on GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Weiss Ratings upgraded GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Royal Bank Of Canada upped their target price on GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. BMO Capital Markets increased their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Finally, Erste Group Bank upgraded GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, GE Vernova has an average rating of "Moderate Buy" and an average target price of $1,090.76.

Trending Headlines about GE Vernova

Here are the key news stories impacting GE Vernova this week:

• Positive Sentiment: GE Vernova won a 100 MW wind turbine contract from Powerica Limited in India, supplying 28 turbines for a Gujarat wind farm. The deal is notable because it marks the first deployment of GE Vernova’s 3.8 MW turbine model in the Indian market, supporting its renewable-energy growth story. GE Vernova to supply 28 wind turbines for Powerica’s Gujarat project
• Positive Sentiment: Recent market commentary continues to frame GEV as a beneficiary of AI-driven power demand, with potential upside from stronger demand for gas turbines, grid equipment, and nuclear-related power infrastructure. Watch 3 AI-Powered Nuclear Energy OEMs Amid Double-Digit Price Upside
• Positive Sentiment: Analysts have also pointed to a global gas turbine supply crunch that could help GE Vernova’s backlog and pricing power as utilities lock in capacity further in advance. Can GE Vernova Benefit From the Global Gas Turbine Supply Crunch?
• Neutral Sentiment: Investors are still balancing strong earnings, improving free cash flow, and new business wins against wind, grid, tariff, and regulatory headwinds. Can GE Vernova (GEV) Power AI Data Center Demand While Managing Wind and Grid Headwinds?
• Negative Sentiment: CEO Victor Abate sold 4,819 shares in a disclosed SEC filing, which can pressure sentiment even though it was a relatively small transaction compared with GE Vernova’s overall market value. SEC Form 4 filing
• Negative Sentiment: Mizuho Securities reportedly maintained a Hold view on GE Vernova, which may be limiting bullish enthusiasm near recent highs. GE Vernova Inc. (GEV) Gets a Hold from Mizuho Securities

GE Vernova 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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