Envestnet Portfolio Solutions Inc. Raises Position in GE Vernova Inc. $GEV

Key Points

• Envestnet Portfolio Solutions increased its GE Vernova stake by 37.9% in the fourth quarter, ending with 6,082 shares valued at about $3.98 million.
• Wall Street sentiment remains positive, with several analysts raising ratings or price targets; the stock currently carries a consensus Moderate Buy and a price target of $1,090.76.
• GE Vernova reported strong quarterly results, posting EPS of $17.44 versus a $1.95 estimate and revenue of $9.34 billion, while also announcing a $0.50 per-share quarterly dividend.

Envestnet Portfolio Solutions Inc. raised its holdings in GE Vernova Inc. (NYSE:GEV - Free Report) by 37.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,082 shares of the company's stock after acquiring an additional 1,673 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in GE Vernova were worth $3,975,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GEV. Jackson Grant Investment Advisers Inc. raised its holdings in GE Vernova by 344.4% in the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in shares of GE Vernova during the 3rd quarter worth approximately $25,000. Torren Management LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $26,000. ORG Wealth Partners LLC increased its holdings in shares of GE Vernova by 241.7% during 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 last quarter. Finally, Navalign LLC acquired a new stake in shares of GE Vernova during the 4th quarter worth approximately $27,000.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GEV shares. Wall Street Zen upgraded shares of GE Vernova from a "hold" rating to a "buy" rating in a report on Saturday, January 31st. BMO Capital Markets lifted their target price on shares of GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Weiss Ratings upgraded GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Evercore raised their price target on GE Vernova from $860.00 to $905.00 and gave the stock an "outperform" rating in a research report on Thursday, January 29th. Finally, Rothschild & Co Redburn raised GE Vernova from a "sell" rating to a "buy" rating and lifted their price objective for the company from $560.00 to $1,100.00 in a research note on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,090.76.

Insider Activity

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on 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 sale, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. The trade was a 39.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company's stock.

GE Vernova Stock Performance

Shares of GEV stock opened at $1,045.50 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 52 week low of $448.45 and a 52 week high of $1,181.95. The stock has a market capitalization of $280.95 billion, a PE ratio of 30.45, a P/E/G ratio of 3.84 and a beta of 1.51. The firm has a 50 day moving average of $974.20 and a two-hundred day moving average of $788.53.

GE Vernova (NYSE:GEV - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating the consensus estimate 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 quarter last year, the company posted $0.91 EPS. The firm's revenue was up 17.0% compared to the same quarter last year. On average, research analysts predict that GE Vernova Inc. will post 14.84 EPS for the current fiscal year.

GE Vernova Announces Dividend

The company also recently disclosed 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. 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 payout ratio is 5.83%.

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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