GE Vernova Inc. $GEV Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC decreased its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,122 shares of the company's stock after selling 5,576 shares during the period. GE Vernova makes up about 1.9% of Eventide Asset Management LLC's investment portfolio, making the stock its 7th largest holding. Eventide Asset Management LLC owned about 0.07% of GE Vernova worth $122,373,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. RFG Advisory LLC increased its position in shares of GE Vernova by 2.1% during the fourth quarter. RFG Advisory LLC now owns 634 shares of the company's stock worth $414,000 after acquiring an additional 13 shares in the last quarter. BlackDiamond Wealth Management LLC increased its position in shares of GE Vernova by 2.8% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company's stock worth $308,000 after acquiring an additional 13 shares in the last quarter. Apriem Advisors increased its position in shares of GE Vernova by 0.7% during the fourth quarter. Apriem Advisors now owns 2,124 shares of the company's stock worth $1,388,000 after acquiring an additional 14 shares in the last quarter. Voisard Asset Management Group Inc. increased its position in shares of GE Vernova by 2.7% during the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock worth $376,000 after acquiring an additional 15 shares in the last quarter. Finally, Clean Yield Group increased its position in shares of GE Vernova by 2.2% during the fourth quarter. Clean Yield Group now owns 685 shares of the company's stock worth $448,000 after acquiring an additional 15 shares in the last quarter.

Analyst Upgrades and Downgrades

GEV has been the subject of several research reports. Robert W. Baird increased their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. The Goldman Sachs Group reissued a "buy" rating and set a $1,328.00 price objective on shares of GE Vernova 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 objective for the company. in a research report on Monday, April 27th. Oppenheimer set a $1,303.00 price objective on shares of GE Vernova in a research report on Thursday, April 23rd. Finally, Royal Bank Of Canada increased their price objective on shares of GE Vernova from $996.00 to $1,195.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, GE Vernova currently has an average rating of "Moderate Buy" and an average target price of $1,085.16.

GE Vernova Stock Up 3.7%

GE Vernova stock opened at $940.14 on Friday. The company has a market cap of $252.63 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 3.49 and a beta of 1.23. GE Vernova Inc. has a 1-year low of $474.21 and a 1-year high of $1,181.95. The company has a fifty day simple moving average of $1,008.85 and a 200 day simple moving average of $831.73. 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 released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $15.49. The business had revenue of $9.34 billion during the quarter, compared to the consensus estimate of $9.19 billion. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.91 earnings per share. Research analysts anticipate that GE Vernova Inc. will post 14.99 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be given 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 yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is 5.83%.

Insiders Place Their Bets

In related news, CEO Victor Abate sold 4,819 shares of the firm's stock in a transaction on Monday, June 1st. The shares were 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 owned 1,835 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the firm'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 completion of the transaction, the chief accounting officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by company insiders.

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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