GE Vernova Inc. $GEV Shares Acquired by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in GE Vernova by 12.1% in the first quarter, ending with 98,296 shares valued at about $85.8 million.
• GE Vernova reported strong quarterly results, with earnings of $17.44 per share and revenue of $9.34 billion, both ahead of analyst expectations. Revenue also rose 17% year over year.
• The company declared a quarterly dividend of $0.50 per share, payable on July 14, while the stock was recently trading around $1,045.74 and was down 3.7% on the day.

Janney Montgomery Scott LLC grew its position in GE Vernova Inc. (NYSE:GEV - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,296 shares of the company's stock after acquiring an additional 10,623 shares during the quarter. Janney Montgomery Scott LLC's holdings in GE Vernova were worth $85,803,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GEV. World Investment Advisors grew its holdings in GE Vernova by 19.9% in the 4th quarter. World Investment Advisors now owns 13,497 shares of the company's stock valued at $8,821,000 after buying an additional 2,241 shares in the last quarter. Varenne Capital Partners acquired a new position in shares of GE Vernova during the 3rd quarter valued at about $4,872,000. Merit Financial Group LLC boosted its position in shares of GE Vernova by 17.4% during the 4th quarter. Merit Financial Group LLC now owns 15,080 shares of the company's stock valued at $9,856,000 after acquiring an additional 2,230 shares during the last quarter. Vest Financial LLC grew its holdings in shares of GE Vernova by 56.7% in the fourth quarter. Vest Financial LLC now owns 66,191 shares of the company's stock valued at $43,260,000 after purchasing an additional 23,956 shares during the period. Finally, Riverbend Wealth Management LLC purchased a new stake in shares of GE Vernova in the fourth quarter valued at about $567,000.

Insider Activity at GE Vernova

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This trade 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 stock in a transaction that occurred on Monday, June 1st. The stock was 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. The trade was a 72.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GEV. Argus set a $1,300.00 price objective on shares of GE Vernova in a research report on Monday, April 27th. JPMorgan Chase & Co. increased their price target on shares of GE Vernova from $1,000.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Susquehanna set a $1,300.00 price target on shares of GE Vernova in a report on Thursday, April 23rd. Citigroup raised their price target on shares of GE Vernova from $779.00 to $1,110.00 and gave the stock a "neutral" rating in a report on Monday, April 13th. Finally, Erste Group Bank raised shares of GE Vernova to a "strong-buy" rating in a research report on Tuesday, March 24th. Three investment 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,089.88.

GE Vernova Stock Down 3.7%

Shares of NYSE:GEV opened at $1,045.74 on Friday. The company has a market capitalization of $281.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 3.87 and a beta of 1.23. GE Vernova Inc. has a 12-month low of $482.20 and a 12-month high of $1,181.95. The business has a 50-day moving average price of $1,031.16 and a 200 day moving average price of $863.97. 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 posted its earnings results on Wednesday, April 22nd. The company reported $17.44 EPS for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The company had revenue of $9.34 billion for the quarter, compared to analysts' expectations of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. GE Vernova's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share. Sell-side analysts expect that GE Vernova Inc. will post 14.99 EPS for the current year.

GE Vernova Dividend Announcement

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