GE Vernova Inc. $GEV Shares Sold by RVW Wealth LLC

Key Points

• RVW Wealth reduced its GE Vernova position by 30.1% in the second quarter, selling 1,005 shares and retaining 2,332 shares valued at approximately $2.74 million. Several other institutions initiated or increased holdings.
• GE Vernova’s latest quarter showed revenue growth of 21.9% year over year to $11.10 billion, exceeding estimates, but earnings per share of $2.47 fell short of the $3.17 consensus forecast.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $1,133.15, while insider ownership is low and executives recently sold shares.

RVW Wealth LLC decreased its position in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 30.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,332 shares of the company's stock after selling 1,005 shares during the period. RVW Wealth LLC's holdings in GE Vernova were worth $2,740,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GEV. Cornerstone Financial Management LLC acquired a new stake in shares of GE Vernova during the fourth quarter valued at about $25,000. Wealth Watch Advisors INC acquired a new position in shares of GE Vernova in the third quarter worth about $25,000. Torren Management LLC acquired a new position in shares of GE Vernova in the fourth quarter worth about $26,000. Manning & Napier Advisors LLC lifted its stake in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company's stock worth $26,000 after acquiring an additional 13 shares in the last quarter. Finally, Navalign LLC purchased a new position in GE Vernova in the fourth quarter valued at about $27,000.

GE Vernova Stock Performance

Shares of GEV stock opened at $998.35 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. GE Vernova Inc. has a one year low of $530.16 and a one year high of $1,195.94. The company's 50-day simple moving average is $1,026.19 and its 200-day simple moving average is $944.87. The stock has a market capitalization of $265.89 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.63 and a beta of 1.21.

GE Vernova (NYSE:GEV - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.70). The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.79 billion. GE Vernova had a net margin of 23.03% and a return on equity of 42.42%. The firm's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. Equities analysts anticipate that GE Vernova Inc. will post 15.57 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

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

Insider Activity at GE Vernova

In related news, CEO Victor Abate sold 4,819 shares of the company's 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 sale, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew Joseph Potvin sold 2,333 shares of the company's 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 value 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 represents a 39.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GEV. Weiss Ratings restated a "buy (b)" rating on shares of GE Vernova in a research note on Tuesday, July 21st. BNP Paribas Exane lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $1,190.00 target price on the stock. in a research report on Monday, April 27th. 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 note on Thursday, April 23rd. Royal Bank Of Canada raised their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of GE Vernova from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, GE Vernova presently has a consensus rating of "Moderate Buy" and an average target price of $1,133.15.

About GE Vernova

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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