CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Cuts Stock Position in GE Vernova Inc. $GEV

Key Points

• Cushing Asset Management cut its stake in GE Vernova by 49.8% in the first quarter, selling 23,850 shares and leaving it with 24,000 shares worth about $20.95 million.
• Analysts remain generally bullish on GE Vernova, with a Moderate Buy consensus and a target price of $1,089.88, though one recent downgrade came from Wall Street Zen.
• GE Vernova reported strong recent results, including EPS of $17.44 versus expectations of $1.95 and revenue of $9.34 billion, while also declaring a quarterly dividend of $0.50 per share.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 49.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,000 shares of the company's stock after selling 23,850 shares during the period. GE Vernova accounts for 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 27th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in GE Vernova were worth $20,950,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Onyx Bridge Wealth Group LLC raised its position in shares of GE Vernova by 1.3% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company's stock worth $635,000 after purchasing an additional 9 shares during the last quarter. Red Door Wealth Management LLC boosted its holdings in GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company's stock worth $1,548,000 after buying an additional 10 shares during the last quarter. Bell Investment Advisors Inc increased its stake in GE Vernova by 5.2% during the 1st quarter. Bell Investment Advisors Inc now owns 221 shares of the company's stock worth $193,000 after buying an additional 11 shares in the last quarter. Sky Investment Group LLC increased its stake in GE Vernova by 0.5% during the 1st quarter. Sky Investment Group LLC now owns 2,405 shares of the company's stock worth $2,099,000 after buying an additional 12 shares in the last quarter. Finally, Hilton Head Capital Partners LLC raised its holdings in shares of GE Vernova by 2.6% during the first quarter. Hilton Head Capital Partners LLC now owns 476 shares of the company's stock valued at $416,000 after acquiring an additional 12 shares during the last quarter.

Analyst Upgrades and Downgrades

GEV has been the topic of a number of research analyst reports. TD Cowen lifted their price target on GE Vernova from $780.00 to $1,220.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Jefferies Financial Group decreased their price objective on GE Vernova from $1,350.00 to $1,210.00 and set a "buy" rating on the stock in a report on Thursday, June 11th. Oppenheimer set a $1,303.00 target price on shares of GE Vernova in a research note on Thursday, April 23rd. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the stock an "overweight" rating in a report on Thursday, April 16th. Finally, Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Three research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,089.88.

Insider Activity

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of GE Vernova 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 transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. The trade was a 72.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction of $2,470,856.97. Following the completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. The trade was a 39.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company's stock.

GE Vernova Price Performance

NYSE:GEV opened at $1,113.43 on Monday. GE Vernova Inc. has a one year low of $506.02 and a one year high of $1,181.95. The stock has a market cap of $299.20 billion, a PE ratio of 32.43, a P/E/G ratio of 4.11 and a beta of 1.09. 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 50 day moving average price of $1,042.04 and a 200 day moving average price of $881.37.

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, topping analysts' consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities research analysts expect that GE Vernova Inc. will post 15.05 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The company 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 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 dividend yield of 0.2%. GE Vernova's payout ratio is presently 5.83%.

Key Stories Impacting GE Vernova

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

• Positive Sentiment: GE Vernova is benefiting from the AI boom not just through gas turbines, but also through higher demand for grid equipment and electrification products used by data centers, reinforcing growth across multiple business lines. GE Vernova's gas turbines aren't the only way it's winning from the AI boom
• Positive Sentiment: The stock is also getting support from its inclusion in the Russell Top 50 Index and from rising orders tied to AI-driven data center power needs, which can improve institutional visibility and sentiment. Why GE Vernova (GEV) Is Up 7.3% After Russell Top 50 Nod And AI Power Orders
• Positive Sentiment: Jim Cramer said GE Vernova is his favorite among the takeover-related names he was discussing and specifically voiced confidence in CEO Scott Strazik, which may be adding to bullish investor attention. Jim Cramer on GE Vernova: “I Believe In Scott Strazik”
• Positive Sentiment: Analysts are flagging GE Vernova as a candidate to beat earnings again, pointing to its strong track record of surprises and favorable setup ahead of its next report. Will GE Vernova (GEV) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Some coverage is simply reminding investors to mark the calendar for July 22, likely a date tied to the company’s next earnings update or an important event, but it does not add new operational news. Dear GE Vernova stock fans, mark your calendars for July 22

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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