Empowered Funds LLC Boosts Position in GE Vernova Inc. $GEV

Empowered Funds LLC raised its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 121.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,558 shares of the company's stock after acquiring an additional 39,294 shares during the quarter. GE Vernova makes up 0.4% of Empowered Funds LLC's portfolio, making the stock its 28th biggest holding. Empowered Funds LLC's holdings in GE Vernova were worth $62,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of GE Vernova by 29.4% in the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock worth $1,091,000 after buying an additional 753 shares during the last quarter. Schnieders Capital Management LLC. increased its holdings in GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock valued at $828,000 after buying an additional 26 shares during the last quarter. Jump Financial LLC purchased a new stake in GE Vernova during the second quarter valued at approximately $258,000. Ossiam bought a new position in GE Vernova in the second quarter worth approximately $42,000. Finally, Nebula Research & Development LLC raised its position in GE Vernova by 23.9% in the second quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after acquiring an additional 323 shares during the period.

Analyst Ratings Changes

Several research analysts have recently weighed in on GEV shares. Wall Street Zen cut shares of GE Vernova from a "buy" rating to a "hold" rating in a research note on Saturday. Guggenheim lifted their target price on GE Vernova from $1,300.00 to $1,450.00 and gave the company a "buy" rating in a research report on Thursday. Susquehanna set a $1,300.00 price target on GE Vernova in a report on Thursday, April 23rd. Wells Fargo & Company upped their price target on GE Vernova from $831.00 to $896.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of GE Vernova in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,133.15.

GE Vernova Stock Down 1.7%

Shares of GEV stock opened at $997.11 on Tuesday. The company has a market capitalization of $265.56 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 3.72 and a beta of 1.09. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company's fifty day moving average price is $1,034.12 and its 200-day moving average price is $925.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm's quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 EPS. Sell-side analysts expect that GE Vernova Inc. will post 15.16 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is 5.72%.

Insider Transactions at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction dated 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 owned 3,549 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of GE Vernova stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $948.08, for a total value 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. This trade represents a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.

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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