GE Vernova Inc. $GEV is ARS Investment Partners LLC's 9th Largest Position

Key Points

• ARS Investment Partners increased its GE Vernova stake by 16.9% in the first quarter, making the stock its 9th largest position at about $55.4 million.
• GE Vernova reported much stronger-than-expected quarterly results, with EPS of $17.44 versus $1.95 expected and revenue of $9.34 billion, up 17% year over year.
• Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average price target of $1,089.88, while the company also announced a $0.50 quarterly dividend.

ARS Investment Partners LLC grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 16.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,447 shares of the company's stock after acquiring an additional 9,182 shares during the period. GE Vernova comprises approximately 2.9% of ARS Investment Partners LLC's investment portfolio, making the stock its 9th biggest position. ARS Investment Partners LLC's holdings in GE Vernova were worth $55,383,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GEV. Jackson Grant Investment Advisers Inc. increased its stake in shares of 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 purchasing an additional 31 shares in the last quarter. Cornerstone Financial Management LLC acquired a new position in GE Vernova in the 4th quarter worth about $25,000. Wealth Watch Advisors INC purchased a new position in GE Vernova during the third quarter worth approximately $25,000. Torren Management LLC purchased a new position in GE Vernova during the fourth quarter worth approximately $26,000. Finally, ORG Wealth Partners LLC grew its holdings in GE Vernova by 241.7% in the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after purchasing an additional 29 shares during the period.

GE Vernova Trading Up 0.2%

GEV stock opened at $1,111.65 on Friday. 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 has a market cap of $298.72 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 4.11 and a beta of 1.23. The business's 50-day moving average is $1,022.78 and its 200 day moving average is $847.85.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 EPS 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 company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the business earned $0.91 EPS. GE Vernova's quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts anticipate that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

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

Analyst Ratings Changes

GEV has been the subject of a number of recent analyst reports. Susquehanna set a $1,300.00 price objective on GE Vernova in a research report on Thursday, April 23rd. BMO Capital Markets increased their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a research report on Thursday, April 23rd. Sanford C. Bernstein assumed coverage on GE Vernova in a research report on Tuesday. They set an "outperform" rating and a $1,206.00 target price on the stock. Wells Fargo & Company lifted their price target on shares of GE Vernova from $831.00 to $896.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Finally, Erste Group Bank raised shares of GE Vernova to a "strong-buy" rating in a report on Tuesday, March 24th. Three 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,089.88.

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 1,835 shares of the company's stock, valued at approximately $1,739,726.80. This represents a 72.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction on 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 sale, the chief accounting officer directly owned 3,549 shares in the company, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.

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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