Focus Partners Wealth Decreases Stock Position in GE Vernova Inc. $GEV

Key Points

• Focus Partners Wealth cut its GE Vernova stake by 1.5% in the fourth quarter, but still held 98,283 shares valued at about $64.2 million at quarter-end.
• Insider selling was notable: CEO Victor Abate sold 4,819 shares and CAO Matthew Joseph Potvin sold 2,333 shares, reducing their ownership positions substantially.
• GE Vernova posted strong results, with quarterly EPS of $17.44 and revenue of $9.34 billion, both beating estimates; the company also announced a $0.50 quarterly dividend.

Focus Partners Wealth lessened its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 98,283 shares of the company's stock after selling 1,493 shares during the period. Focus Partners Wealth's holdings in GE Vernova were worth $64,234,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jackson Grant Investment Advisers Inc. increased its stake in GE Vernova by 344.4% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the period. Cornerstone Financial Management LLC purchased a new stake in GE Vernova in the fourth quarter worth $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the third quarter worth $25,000. Torren Management LLC purchased a new stake in GE Vernova in the fourth quarter worth $26,000. Finally, ORG Wealth Partners LLC increased its stake in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after purchasing an additional 29 shares during the period.

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 stock was sold at an average price of $948.08, for a total value of $4,568,797.52. Following the transaction, the chief executive officer owned 1,835 shares in the company, valued at $1,739,726.80. The trade was a 72.42% 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, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated 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 completion of the transaction, the chief accounting officer owned 3,549 shares in the company, valued at $3,758,710.41. This trade represents a 39.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by insiders.

GE Vernova Stock Performance

Shares of GE Vernova stock opened at $980.08 on Tuesday. The firm has a market cap of $263.37 billion, a P/E ratio of 28.55, a P/E/G ratio of 3.49 and a beta of 1.24. The company has a current ratio of 0.89, a quick ratio of 0.65 and a debt-to-equity ratio of 0.19. GE Vernova Inc. has a 12 month low of $479.04 and a 12 month high of $1,181.95. The stock's fifty day moving average price is $1,010.48 and its 200-day moving average price is $836.38.

GE Vernova (NYSE:GEV - Get Free Report) last announced 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. The firm 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 business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share. On average, equities research analysts expect that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, June 16th. GE Vernova's payout ratio is 5.83%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Oppenheimer set a $1,303.00 target price on GE Vernova in a research note on Thursday, April 23rd. BNP Paribas Exane lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price on the stock. in a research note on Monday, April 27th. Argus set a $1,300.00 target price on GE Vernova in a research note on Monday, April 27th. Citigroup increased their target price on GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. Finally, Susquehanna set a $1,300.00 price target on GE Vernova in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,085.16.

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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