Diversified Trust Co Has $10.79 Million Stake in GE Vernova Inc. $GEV

Key Points

• Diversified Trust Co increased its GE Vernova stake by 18.1% in the first quarter, ending with 12,363 shares valued at about $10.79 million.
• GE Vernova reported a much stronger-than-expected first-quarter result, with EPS of $17.44 and revenue of $9.34 billion, both ahead of analyst estimates.
• The company declared a quarterly dividend of $0.50 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average target price of $1,089.88.

Diversified Trust Co grew its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 18.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,363 shares of the company's stock after buying an additional 1,899 shares during the period. Diversified Trust Co's holdings in GE Vernova were worth $10,792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GEV. RFG Advisory LLC raised its position 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 stake in GE Vernova by 2.8% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company's stock worth $308,000 after acquiring an additional 13 shares during the last quarter. First Commonwealth Financial Corp PA grew its holdings in GE Vernova by 3.5% during the fourth quarter. First Commonwealth Financial Corp PA now owns 380 shares of the company's stock valued at $248,000 after purchasing an additional 13 shares during the period. Apriem Advisors grew its holdings in GE Vernova by 0.7% during the fourth quarter. Apriem Advisors now owns 2,124 shares of the company's stock valued at $1,388,000 after purchasing an additional 14 shares during the period. Finally, Voisard Asset Management Group Inc. grew its holdings in GE Vernova by 2.7% during the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock valued at $376,000 after purchasing an additional 15 shares during the period.

GE Vernova Stock Up 0.2%

NYSE:GEV opened at $1,111.65 on Friday. 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 company has a market cap of $298.72 billion, a PE ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23. GE Vernova Inc. has a 52-week low of $479.04 and a 52-week high of $1,181.95. The stock has a 50-day simple moving average of $1,022.78 and a 200 day simple moving average of $847.85.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The business 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%.GE Vernova's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 EPS. On average, sell-side analysts expect that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is currently 5.83%.

Insider Buying and Selling

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova 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 sale, the chief accounting officer directly owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Zacks Research cut shares of GE Vernova from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a report on Thursday, April 16th. Guggenheim upped their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company raised their price objective on GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 31st. Three 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. According to data from MarketBeat, GE Vernova currently has a consensus rating of "Moderate Buy" and an average target price of $1,089.88.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.