GE Vernova Inc. $GEV Stock Position Raised by Adams Diversified Equity Fund Inc.

Key Points

• Adams Diversified Equity Fund increased its GE Vernova stake by 12.8% in the fourth quarter, buying 5,200 additional shares and bringing its total to 45,900 shares worth about $30 million.
• Insiders sold shares recently, including CEO Victor Abate and CAO Matthew Joseph Potvin, with both transactions trimming their personal holdings significantly.
• GE Vernova reported strong quarterly results, posting EPS of $17.44 versus the $1.95 estimate and revenue of $9.34 billion, while analysts remain broadly positive with a consensus rating of Moderate Buy.

Adams Diversified Equity Fund Inc. lifted its holdings in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,900 shares of the company's stock after buying an additional 5,200 shares during the period. GE Vernova accounts for approximately 1.0% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 23rd biggest position. Adams Diversified Equity Fund Inc.'s holdings in GE Vernova were worth $29,999,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GEV. RFG Advisory LLC boosted its holdings in shares of GE Vernova by 2.1% in the fourth quarter. RFG Advisory LLC now owns 634 shares of the company's stock valued at $414,000 after acquiring an additional 13 shares in the last quarter. BlackDiamond Wealth Management LLC boosted its holdings in shares of GE Vernova by 2.8% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 471 shares of the company's stock valued at $308,000 after acquiring an additional 13 shares in the last quarter. Apriem Advisors boosted its holdings in shares of GE Vernova by 0.7% in the fourth quarter. Apriem Advisors now owns 2,124 shares of the company's stock valued at $1,388,000 after acquiring an additional 14 shares in the last quarter. Voisard Asset Management Group Inc. boosted its holdings in shares of GE Vernova by 2.7% in the fourth quarter. Voisard Asset Management Group Inc. now owns 575 shares of the company's stock valued at $376,000 after acquiring an additional 15 shares in the last quarter. Finally, Clean Yield Group boosted its holdings in shares of GE Vernova by 2.2% in the fourth quarter. Clean Yield Group now owns 685 shares of the company's stock valued at $448,000 after acquiring an additional 15 shares in the last quarter.

Insider Buying and Selling at GE Vernova

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

GE Vernova Stock Up 3.7%

GE Vernova stock opened at $940.14 on Friday. The firm has a market cap of $252.63 billion, a PE ratio of 27.39, a P/E/G ratio of 3.49 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.65 and a current ratio of 0.89. The firm's 50 day moving average price is $1,008.85 and its two-hundred day moving average price is $831.73. GE Vernova Inc. has a twelve month low of $474.21 and a twelve month high of $1,181.95.

GE Vernova (NYSE:GEV - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The company reported $17.44 earnings per share for the quarter, beating the consensus estimate of $1.95 by $15.49. GE Vernova had a net margin of 23.81% and a return on equity of 43.97%. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the prior year, the business earned $0.91 EPS. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, research analysts predict that GE Vernova Inc. will post 14.99 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm 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 is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.2%. GE Vernova's dividend payout ratio is 5.83%.

Analyst Ratings Changes

GEV has been the subject of several recent analyst reports. Robert W. Baird increased their price objective on shares of GE Vernova from $1,008.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Rothschild & Co Redburn upgraded shares of GE Vernova from a "sell" rating to a "buy" rating and increased their price objective for the company from $560.00 to $1,100.00 in a report on Monday, March 9th. Guggenheim increased their price objective on shares of GE Vernova from $910.00 to $1,300.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. BMO Capital Markets increased their target price on shares of 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. Finally, Argus set a $1,300.00 target price on shares of GE Vernova in a research note on Monday, April 27th. 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,085.16.

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.

Want to see what other hedge funds are holding GEV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GE Vernova Inc. (NYSE:GEV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.