Forum Financial Management LP Trims Stock Position in GE Vernova Inc. $GEV

Key Points

• Forum Financial Management LP cut its GE Vernova stake by 45.9% in the first quarter, leaving it with 1,715 shares worth about $1.5 million.
• Despite some mixed analyst moves, sentiment remains broadly positive: GE Vernova has a Moderate Buy consensus with an average price target of $1,089.88, while several firms recently raised targets to as high as $1,300.
• The company reported strong quarterly results, including EPS of $17.44 versus estimates of $1.95 and revenue of $9.34 billion, and it also announced a quarterly dividend of $0.50 per share.

Forum Financial Management LP lessened its stake in GE Vernova Inc. (NYSE:GEV - Free Report) by 45.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,715 shares of the company's stock after selling 1,457 shares during the quarter. Forum Financial Management LP's holdings in GE Vernova were worth $1,496,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Torren Management LLC purchased a new position in GE Vernova during the fourth quarter valued at approximately $26,000. Cornerstone Financial Management LLC acquired a new position in GE Vernova in the fourth quarter valued at approximately $25,000. Wealth Watch Advisors INC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC boosted its position in GE Vernova by 241.7% in the 4th quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock worth $27,000 after purchasing an additional 29 shares in the last quarter. Finally, Navalign LLC purchased a new stake in GE Vernova in the 4th quarter worth approximately $27,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of GE Vernova from $817.00 to $960.00 and gave the company an "overweight" rating in a report on Monday, March 23rd. Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada raised their price target on shares of GE Vernova from $996.00 to $1,195.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Weiss Ratings upgraded shares of GE Vernova from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. Finally, Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a report on Thursday, April 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, GE Vernova presently has an average rating of "Moderate Buy" and a consensus price target of $1,089.88.

Insider Buying and Selling at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on 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 transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at $1,739,726.80. This trade represents a 72.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by insiders.

GE Vernova Stock Up 5.4%

Shares of GEV opened at $1,101.11 on Tuesday. The firm has a market cap of $295.89 billion, a P/E ratio of 32.07, a PEG ratio of 3.87 and a beta of 1.24. GE Vernova Inc. has a 12 month low of $482.20 and a 12 month high of $1,181.95. The stock's 50 day moving average is $1,033.60 and its two-hundred day moving average is $869.03. 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 (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, topping the consensus estimate of $1.95 by $15.49. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company posted $0.91 EPS. The business's quarterly revenue was up 17.0% on a year-over-year basis. Analysts predict that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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