GE Vernova Inc. $GEV Shares Acquired by Verus Capital Partners LLC

Key Points

• Verus Capital Partners increased its GE Vernova stake by 249.7% in the first quarter, owning 2,025 shares valued at approximately $1.77 million. Several other investment firms also initiated or expanded positions.
• Analysts remain broadly positive, with GE Vernova receiving a “Moderate Buy” consensus rating and an average price target of $1,133.15. Recent target increases included Bernstein at $1,298 and Susquehanna at $1,300.
• GE Vernova reported quarterly revenue of $11.10 billion, up 21.9% year over year and above estimates, but EPS of $2.47 missed expectations of $3.17. The company also paid a quarterly dividend of $0.50, while two executives recently sold shares.

Verus Capital Partners LLC increased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 249.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,025 shares of the company's stock after purchasing an additional 1,446 shares during the quarter. Verus Capital Partners LLC's holdings in GE Vernova were worth $1,768,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GEV. Brighton Jones LLC increased its stake in GE Vernova by 29.4% during the fourth quarter. Brighton Jones LLC now owns 3,315 shares of the company's stock valued at $1,091,000 after purchasing an additional 753 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of GE Vernova by 1.7% during the second quarter. Schnieders Capital Management LLC. now owns 1,564 shares of the company's stock worth $828,000 after purchasing an additional 26 shares during the period. Jump Financial LLC acquired a new stake in shares of GE Vernova during the second quarter worth $258,000. Ossiam bought a new position in shares of GE Vernova in the 2nd quarter worth about $42,000. Finally, Nebula Research & Development LLC lifted its position in shares of GE Vernova by 23.9% in the 2nd quarter. Nebula Research & Development LLC now owns 1,674 shares of the company's stock worth $886,000 after buying an additional 323 shares during the last quarter.

Insider Transactions at GE Vernova

In other GE Vernova news, CEO Victor Abate sold 4,819 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 1,835 shares in the company, valued at approximately $1,739,726.80. The trade was a 72.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on GEV. Sanford C. Bernstein lifted their price target on shares of GE Vernova from $1,206.00 to $1,298.00 and gave the company an "outperform" rating in a report on Thursday, July 23rd. Susquehanna set a $1,300.00 price objective on shares of GE Vernova in a research note on Thursday, April 23rd. TD Cowen raised their target price on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Citigroup lifted their target price on GE Vernova from $779.00 to $1,110.00 and gave the company a "neutral" rating in a research note on Monday, April 13th. Finally, BMO Capital Markets upped their target price on GE Vernova from $1,110.00 to $1,250.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,133.15.

GE Vernova Stock Up 0.8%

Shares of GE Vernova stock opened at $990.30 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.62. GE Vernova Inc. has a 1-year low of $530.16 and a 1-year high of $1,195.94. The business's fifty day moving average price is $1,028.05 and its two-hundred day moving average price is $932.76. The company has a market capitalization of $263.75 billion, a P/E ratio of 28.34, a PEG ratio of 3.53 and a beta of 1.09.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.70). The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.86 EPS. As a group, research analysts forecast that GE Vernova Inc. will post 15.46 EPS for the current year.

GE Vernova Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, June 16th. GE Vernova's dividend payout ratio is currently 5.72%.

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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