Evexia Wealth LLC Invests $8.33 Million in GE Vernova Inc. $GEV

Key Points

• Evexia Wealth LLC opened a new position in GE Vernova during the first quarter, buying 9,547 shares worth about $8.33 million. The stake represents roughly 2.3% of its portfolio and is its 20th-largest holding.
• GE Vernova reported strong quarterly results, including EPS of $17.44 versus consensus of $1.95 and revenue of $9.34 billion, up 17% year over year. Analysts now expect the company to post 14.99 EPS for the current year.
• Wall Street remains broadly positive, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating. The company also declared a $0.50 quarterly dividend, though the yield remains low at about 0.2%.

Evexia Wealth LLC acquired a new position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,547 shares of the company's stock, valued at approximately $8,334,000. GE Vernova accounts for about 2.3% of Evexia Wealth LLC's portfolio, making the stock its 20th largest holding.

Several other institutional investors have also made changes to their positions in GEV. World Investment Advisors increased its holdings in shares of GE Vernova by 19.9% during the fourth quarter. World Investment Advisors now owns 13,497 shares of the company's stock worth $8,821,000 after buying an additional 2,241 shares in the last quarter. US Bancorp DE boosted its holdings in shares of GE Vernova by 2.2% in the 3rd quarter. US Bancorp DE now owns 100,542 shares of the company's stock worth $61,824,000 after acquiring an additional 2,163 shares in the last quarter. Varenne Capital Partners acquired a new position in shares of GE Vernova in the 3rd quarter worth approximately $4,872,000. Merit Financial Group LLC grew its position in GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company's stock worth $9,856,000 after acquiring an additional 2,230 shares during the last quarter. Finally, Vest Financial LLC grew its position in GE Vernova by 56.7% during the 4th quarter. Vest Financial LLC now owns 66,191 shares of the company's stock worth $43,260,000 after acquiring an additional 23,956 shares during the last quarter.

GE Vernova Stock Up 0.2%

NYSE GEV opened at $1,111.65 on Monday. The stock has a fifty day moving average of $1,022.78 and a 200-day moving average of $849.76. The stock has a market capitalization of $298.72 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 4.11 and a beta of 1.24. GE Vernova Inc. has a 52 week low of $479.04 and a 52 week high of $1,181.95. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89.

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. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The company had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The firm's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's dividend payout ratio (DPR) is presently 5.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Argus set a $1,300.00 price target on GE Vernova in a report on Monday, April 27th. Barclays boosted their price objective on GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a research note on Thursday, April 23rd. Sanford C. Bernstein began coverage on GE Vernova in a report on Tuesday, June 16th. They set an "outperform" rating and a $1,206.00 target price on the stock. Robert W. Baird increased their target price on GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $1,328.00 target price on shares of GE Vernova in a research note on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,089.88.

Insider Activity

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 transaction of $2,470,856.97. Following the transaction, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Victor Abate sold 4,819 shares of the firm's 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 completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. 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.

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.