Corient Private Wealth LLC Purchases 15,450 Shares of GE Vernova Inc. $GEV

Key Points

• Corient Private Wealth LLC increased its GE Vernova stake by 27.9% in the fourth quarter, buying 15,450 additional shares and bringing its total holding to 70,869 shares valued at about $46.2 million.
• Several analysts remain bullish on GE Vernova, with a consensus rating of “Moderate Buy” and an average price target of $1,089.88, even as some firms adjusted targets upward or downward in recent reports.
• GE Vernova reported strong quarterly results, posting EPS of $17.44 versus the $1.95 estimate and revenue of $9.34 billion, while also announcing a quarterly dividend of $0.50 per share.

Corient Private Wealth LLC raised its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 27.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,869 shares of the company's stock after buying an additional 15,450 shares during the period. Corient Private Wealth LLC's holdings in GE Vernova were worth $46,173,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GEV. Torren Management LLC purchased a new position in GE Vernova during the 4th quarter valued at about $26,000. Cornerstone Financial Management LLC purchased a new stake in GE Vernova in the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC lifted its holdings in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after buying an additional 29 shares during the period. Finally, Navalign LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $27,000.

Analyst Ratings Changes

GEV has been the subject of a number of recent analyst reports. Jefferies Financial Group decreased their target price on GE Vernova from $1,350.00 to $1,210.00 and set a "buy" rating for the company in a report on Thursday, June 11th. Morgan Stanley lifted 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. Weiss Ratings raised shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Finally, Guggenheim raised their target price on shares of GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,089.88.

Insider Transactions at GE Vernova

In other GE Vernova news, CAO Matthew Joseph Potvin sold 2,333 shares of the company'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 sale, the chief accounting officer owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. This represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $1,111.65 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 firm has a market capitalization of $298.72 billion, a P/E ratio of 32.38, a P/E/G ratio of 4.11 and a beta of 1.24. The business has a fifty day simple moving average of $1,022.78 and a two-hundred day simple moving average of $849.76. GE Vernova Inc. has a 12 month low of $479.04 and a 12 month high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The company's revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. On average, equities analysts forecast that GE Vernova Inc. will post 14.99 earnings per share 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. Investors of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 0.2%. GE Vernova's payout ratio 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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