GE Vernova Inc. $GEV is Newport Trust Company LLC's 10th Largest Position

Key Points

• Newport Trust Company trimmed its GE Vernova stake by 1.1% in the fourth quarter but still holds 1.67 million shares, making GEV its 10th-largest position and about 2.6% of its portfolio.
• GE Vernova reported much stronger-than-expected quarterly results, posting $17.44 EPS versus $1.95 expected and revenue of $9.34 billion, up 17% year over year.
• The company also announced a quarterly dividend of $0.50 per share and remains heavily covered by analysts, with a consensus rating of Moderate Buy and a target price of $1,090.76.

Newport Trust Company LLC lessened its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,672,237 shares of the company's stock after selling 18,839 shares during the quarter. GE Vernova comprises about 2.6% of Newport Trust Company LLC's holdings, making the stock its 10th biggest holding. Newport Trust Company LLC owned 0.62% of GE Vernova worth $1,092,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. RFG Advisory LLC lifted its position in shares of GE Vernova by 2.1% during the 4th quarter. RFG Advisory LLC now owns 634 shares of the company's stock worth $414,000 after buying an additional 13 shares during the last quarter. Voisard Asset Management Group Inc. lifted its position in shares of GE Vernova by 2.7% during the 4th quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock worth $376,000 after buying an additional 15 shares during the last quarter. Clean Yield Group lifted its position in shares of GE Vernova by 2.2% during the 4th quarter. Clean Yield Group now owns 685 shares of the company's stock worth $448,000 after buying an additional 15 shares during the last quarter. Rossmore Private Capital raised its position in GE Vernova by 2.8% in the 4th quarter. Rossmore Private Capital now owns 559 shares of the company's stock valued at $365,000 after purchasing an additional 15 shares during the last quarter. Finally, Forefront Wealth Partners LLC raised its position in GE Vernova by 1.5% in the 4th quarter. Forefront Wealth Partners LLC now owns 997 shares of the company's stock valued at $652,000 after purchasing an additional 15 shares during the last quarter.

GE Vernova Stock Performance

NYSE:GEV 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 fifty-two week low of $448.45 and a fifty-two week high of $1,181.95. The stock has a market cap of $280.95 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 3.84 and a beta of 1.51. The firm's fifty day simple moving average is $974.20 and its 200-day simple moving average is $788.53.

GE Vernova (NYSE:GEV - Get Free Report) last posted its quarterly 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 net margin of 23.81% and a return on equity of 43.97%. The business had revenue of $9.34 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same period in the prior year, the company posted $0.91 EPS. The business's revenue for the quarter was up 17.0% on a year-over-year basis. Analysts expect that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Dividend Announcement

The business 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 dividend of $0.50 per share. 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 dividend payout ratio is 5.83%.

Insider Buying and Selling at GE Vernova

In other news, CAO Matthew Joseph Potvin sold 2,333 shares of the company's 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 transaction, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at $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 available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GEV has been the subject of several research reports. 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. BNP Paribas Exane downgraded shares of GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 price target for the company. in a research report on Monday, April 27th. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Oppenheimer set a $1,303.00 price target on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Jefferies Financial Group upped their price target on shares of GE Vernova from $965.00 to $1,350.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $1,090.76.

GE Vernova Company 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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